AEGON ASSET MANAGEMENT UK Plc Decreases Stock Holdings in State Street Co. (NYSE:STT)

AEGON ASSET MANAGEMENT UK Plc decreased its position in State Street Co. (NYSE:STT - Free Report) by 34.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 313,159 shares of the asset manager's stock after selling 164,097 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.10% of State Street worth $27,711,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager's stock worth $15,376,000 after acquiring an additional 6,363 shares during the last quarter. M&G Plc purchased a new stake in shares of State Street in the first quarter worth $7,626,000. Cetera Investment Advisers grew its stake in shares of State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager's stock worth $3,433,000 after acquiring an additional 24,906 shares during the last quarter. Forsta AP Fonden grew its stake in shares of State Street by 19.7% in the first quarter. Forsta AP Fonden now owns 75,900 shares of the asset manager's stock worth $5,869,000 after acquiring an additional 12,500 shares during the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of State Street by 44.7% in the first quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager's stock worth $2,377,000 after acquiring an additional 9,499 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STT. Morgan Stanley increased their price objective on State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Barclays increased their price objective on State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on State Street from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, Citigroup increased their price objective on State Street from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $91.39.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of State Street 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 sale, the executive vice president now owns 55,108 shares of the company's stock, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of NYSE STT traded down $0.34 during trading on Friday, hitting $94.78. The company had a trading volume of 2,723,278 shares, compared to its average volume of 2,226,971. The stock has a 50 day simple moving average of $89.02 and a 200 day simple moving average of $81.38. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 12 month low of $66.27 and a 12 month high of $98.45. The firm has a market capitalization of $27.78 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 earnings per share. As a group, analysts anticipate that State Street Co. will post 8.38 earnings per share for the current year.

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.