OVERSEA CHINESE BANKING Corp Ltd Trims Stock Position in State Street Co. (NYSE:STT)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in State Street Co. (NYSE:STT - Free Report) by 67.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the asset manager's stock after selling 62,899 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in State Street were worth $2,654,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of State Street by 11.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,282 shares of the asset manager's stock worth $640,000 after buying an additional 839 shares during the period. Empowered Funds LLC grew its stake in shares of State Street by 14.9% in the 1st quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager's stock valued at $296,000 after purchasing an additional 498 shares during the last quarter. NorthRock Partners LLC purchased a new position in shares of State Street in the 1st quarter valued at approximately $206,000. Russell Investments Group Ltd. increased its holdings in shares of State Street by 63.7% in the first quarter. Russell Investments Group Ltd. now owns 440,621 shares of the asset manager's stock valued at $34,054,000 after purchasing an additional 171,440 shares during the period. Finally, US Bancorp DE raised its stake in shares of State Street by 38.3% during the first quarter. US Bancorp DE now owns 132,010 shares of the asset manager's stock worth $10,207,000 after purchasing an additional 36,574 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

STT has been the topic of several recent research reports. Royal Bank of Canada boosted their price objective on shares of State Street from $85.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price target on shares of State Street from $100.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Citigroup raised their price objective on shares of State Street from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Monday, July 22nd. Barclays boosted their target price on State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, State Street has an average rating of "Hold" and an average price target of $91.96.

State Street Price Performance

NYSE:STT traded down $0.02 during mid-day trading on Wednesday, hitting $95.17. 1,649,632 shares of the company's stock traded hands, compared to its average volume of 2,220,699. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $27.90 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.21 and a beta of 1.46. The firm's 50 day simple moving average is $89.39 and its 200 day simple moving average is $81.80. State Street Co. has a 1 year low of $68.00 and a 1 year high of $98.45.

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 the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during 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 company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 EPS. Sell-side analysts expect that State Street Co. will post 8.42 EPS for the current year.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of State Street 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

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.