State Street Co. (NYSE:STT) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC decreased its holdings in shares of State Street Co. (NYSE:STT) by 23.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 939 shares of the asset manager’s stock after selling 280 shares during the quarter. Sentry Investment Management LLC’s holdings in State Street were worth $84,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Adero Partners LLC grew its position in State Street by 3.6% in the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock valued at $285,000 after buying an additional 100 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after acquiring an additional 121 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after purchasing an additional 131 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of State Street by 13.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager’s stock worth $104,000 after buying an additional 134 shares during the period. Finally, Apollon Wealth Management LLC grew its position in State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after purchasing an additional 138 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares of the company’s stock, valued at approximately $667,154.88. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STT. Bank of America raised their price target on State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on shares of State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Citigroup lowered their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Wall Street Zen lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company reduced their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.54.

State Street Price Performance

Shares of STT opened at $96.08 on Thursday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The stock has a market cap of $27.40 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.11 and a beta of 1.45. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The business’s fifty day moving average is $89.10 and its 200 day moving average is $94.02.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the firm earned $1.69 earnings per share. Sell-side analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Tuesday, July 1st. State Street’s payout ratio is presently 34.12%.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.