State Street Co. (NYSE:STT) Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp trimmed its holdings in shares of State Street Co. (NYSE:STT) by 48.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350 shares of the asset manager’s stock after selling 330 shares during the period. Tompkins Financial Corp’s holdings in State Street were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STT. Peapack Gladstone Financial Corp lifted its holdings in State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after acquiring an additional 103 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 129 shares during the period. Rockland Trust Co. boosted its stake in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after acquiring an additional 150 shares in the last quarter. Empirical Finance LLC boosted its position in State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after purchasing an additional 158 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its position in shares of State Street by 6.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,869 shares of the asset manager’s stock valued at $282,000 after buying an additional 180 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

STT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average target price of $100.33.

State Street Stock Down 3.0 %

Shares of NYSE:STT opened at $97.51 on Friday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $101.91. The stock’s 50-day moving average price is $97.67 and its two-hundred day moving average price is $89.35. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.04 earnings per share. On average, research analysts forecast that State Street Co. will post 8.45 EPS for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 48.03%.

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.