Lecap Asset Management Ltd. Has $2.16 Million Holdings in State Street Co. (NYSE:STT)

Lecap Asset Management Ltd. trimmed its position in State Street Co. (NYSE:STT - Free Report) by 56.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,430 shares of the asset manager's stock after selling 31,467 shares during the period. Lecap Asset Management Ltd.'s holdings in State Street were worth $2,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC acquired a new position in State Street in the first quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street in the 2nd quarter valued at approximately $27,000. Norwood Financial Corp bought a new stake in State Street during the 1st quarter worth approximately $35,000. Versant Capital Management Inc raised its holdings in State Street by 411.9% during the 2nd 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 period. Finally, Trust Co. of Vermont lifted its stake in State Street by 44.4% in 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 in the last quarter. Institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STT. Wells Fargo & Company raised their price objective on shares of State Street from $98.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods cut their price target on State Street from $88.00 to $84.00 and set a "market perform" rating on the stock in a report on Thursday, June 27th. Barclays increased their price objective on State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Morgan Stanley lifted their target price 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. Finally, Citigroup upped their price target on State Street from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $91.39.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company's stock.

State Street Stock Performance

State Street stock traded up $1.59 during mid-day trading on Wednesday, hitting $91.45. 2,457,700 shares of the company's stock traded hands, compared to its average volume of 2,236,696. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $94.60. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 1.17 and a beta of 1.48. The firm has a 50 day simple moving average of $86.37 and a two-hundred day simple moving average of $79.78. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business's revenue was up 21.1% on a year-over-year basis. On average, research analysts expect that State Street Co. will post 8.36 EPS for the current fiscal 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.