Everence Capital Management Inc. Has $941,000 Stock Holdings in State Street Co. (NYSE:STT)

Everence Capital Management Inc. trimmed its stake in State Street Co. (NYSE:STT) by 15.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,590 shares of the asset manager’s stock after selling 1,790 shares during the period. Everence Capital Management Inc.’s holdings in State Street were worth $941,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in State Street by 2.3% in the second quarter. TD Asset Management Inc now owns 123,488 shares of the asset manager’s stock valued at $9,138,000 after acquiring an additional 2,731 shares during the period. National Bank of Canada FI raised its position in State Street by 443.1% in the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after purchasing an additional 363,399 shares during the last quarter. Candriam S.C.A. raised its position in shares of State Street by 21.9% during the second quarter. Candriam S.C.A. now owns 48,686 shares of the asset manager’s stock worth $3,603,000 after acquiring an additional 8,761 shares during the last quarter. Savant Capital LLC lifted its position in State Street by 125.0% during the 2nd quarter. Savant Capital LLC now owns 27,527 shares of the asset manager’s stock valued at $2,037,000 after purchasing an additional 15,293 shares during the period. Finally, Letko Brosseau & Associates Inc. lifted its holdings in State Street by 2.0% in the second quarter. Letko Brosseau & Associates Inc. now owns 913,296 shares of the asset manager’s stock valued at $67,584,000 after buying an additional 18,260 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.57.

State Street Stock Performance

Shares of NYSE STT opened at $97.67 on Friday. The stock has a 50 day moving average of $96.99 and a 200-day moving average of $87.82. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The company has a market capitalization of $28.63 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts predict that State Street Co. will post 8.42 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, January 2nd. State Street’s dividend payout ratio is presently 48.03%.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated 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 completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by insiders.

State Street 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.