Kovitz Investment Group Partners LLC Buys Shares of 52,674 State Street Co. (NYSE:STT)

Kovitz Investment Group Partners LLC bought a new position in shares of State Street Co. (NYSE:STT - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,674 shares of the asset manager's stock, valued at approximately $4,315,000.

Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its holdings 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. grew its holdings in shares of State Street by 1.8% in the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock valued at $737,000 after purchasing an additional 150 shares during the period. Empirical Finance LLC grew its holdings in shares of State Street by 1.4% in the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock valued at $997,000 after purchasing an additional 158 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of State Street by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager's stock valued at $512,000 after purchasing an additional 184 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of State Street by 8.3% in the third quarter. Allworth Financial LP now owns 2,425 shares of the asset manager's stock valued at $215,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on STT. Deutsche Bank Aktiengesellschaft increased their target price on shares of State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Morgan Stanley raised shares of State Street from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $102.00 to $139.00 in a research report on Monday. Barclays raised their target price on shares of State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $106.00 to $108.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $97.32.

State Street Trading Up 1.1 %

STT traded up $1.06 during midday trading on Monday, hitting $99.47. The company's stock had a trading volume of 3,504,097 shares, compared to its average volume of 2,201,567. 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 $29.16 billion, a P/E ratio of 15.71, a PEG ratio of 1.22 and a beta of 1.44. The firm has a 50-day moving average price of $93.59 and a two-hundred day moving average price of $84.69. State Street Co. has a 52-week low of $70.20 and a 52-week high of $100.35.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm's revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. On average, research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the business's stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company's stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 in the last 90 days. 0.31% of the stock is owned by company insiders.

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.