Pine Valley Investments Ltd Liability Co Sells 26,947 Shares of State Street Co. (NYSE:STT)

Pine Valley Investments Ltd Liability Co reduced its position in State Street Co. (NYSE:STT - Free Report) by 76.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,113 shares of the asset manager's stock after selling 26,947 shares during the period. Pine Valley Investments Ltd Liability Co's holdings in State Street were worth $718,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of STT. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street in the second quarter valued at $27,000. Coastline Trust Co acquired a new position in State Street in the 3rd quarter valued at about $44,000. Capital Performance Advisors LLP bought a new position in State Street in the 3rd quarter valued at about $54,000. Family Firm Inc. acquired a new stake in State Street during the second quarter worth approximately $61,000. Finally, LRI Investments LLC boosted its holdings in shares of State Street by 202.7% during the second quarter. LRI Investments LLC now owns 993 shares of the asset manager's stock worth $73,000 after acquiring an additional 665 shares during the period. Institutional investors own 87.44% of the company's stock.

State Street Price Performance

Shares of STT stock traded down $0.15 during trading hours on Friday, reaching $100.46. The company's stock had a trading volume of 1,922,570 shares, compared to its average volume of 2,210,929. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The firm's 50 day simple moving average is $94.68 and its 200-day simple moving average is $85.25. 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 $29.45 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.23 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street's revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. Sell-side analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 55,108 shares of the company's stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. Corporate insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STT. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Morgan Stanley upgraded State Street from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $102.00 to $139.00 in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on State Street from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $97.32.

State Street 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.