State Street Co. (NYSE:STT) Shares Sold by M&G Plc

M&G PLC lessened its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 88.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,199 shares of the asset manager's stock after selling 112,474 shares during the period. M&G PLC's holdings in State Street were worth $1,250,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in State Street in the first quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of State Street in the second quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager's stock worth $38,000 after buying an additional 416 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager's stock valued at $48,000 after buying an additional 200 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of State Street in the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Buying and Selling

In other 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 value of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares of the company's stock, valued at $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on STT. Barclays lifted their price target on State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $79.00 to $87.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. Royal Bank of Canada upped their price target on shares of State Street from $85.00 to $91.00 and gave the company a "sector perform" rating in a report on Wednesday, July 17th. Finally, Evercore ISI increased their price target on State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $91.39.

State Street Price Performance

Shares of State Street stock traded down $0.34 on Friday, reaching $94.78. The company's stock had a trading volume of 2,723,278 shares, compared to its average volume of 2,226,971. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $27.78 billion, a P/E ratio of 14.97, a PEG ratio of 1.24 and a beta of 1.46. The stock has a 50-day moving average price of $89.02 and a 200-day moving average price of $81.38. State Street Co. has a 52-week low of $66.27 and a 52-week high of $98.45.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. The firm's revenue was up 21.1% compared to the same quarter last year. Analysts expect that State Street Co. will post 8.38 EPS for the current year.

About State Street

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.