Quest Partners LLC Sells 19,560 Shares of State Street Co. (NYSE:STT)

Quest Partners LLC trimmed its holdings in State Street Co. (NYSE:STT - Free Report) by 48.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,716 shares of the asset manager's stock after selling 19,560 shares during the quarter. Quest Partners LLC's holdings in State Street were worth $1,833,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of STT. LRI Investments LLC purchased a new position in State Street in the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street during the 2nd quarter valued at approximately $27,000. Versant Capital Management Inc raised its position in shares of State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager's stock valued at $38,000 after buying an additional 416 shares during the period. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter valued at approximately $44,000. Finally, Trust Co. of Vermont raised its position in shares of State Street by 44.4% during the 2nd 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 period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the business'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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

STT has been the topic of several analyst reports. Barclays lifted their price target on shares of State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on State Street from $106.00 to $108.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI upped their price objective 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $90.00 to $95.00 and gave the company a "hold" rating in a report on Monday, November 11th. Finally, StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, State Street presently has a consensus rating of "Hold" and a consensus target price of $92.11.

State Street Stock Down 1.5 %

STT stock traded down $1.41 during trading on Tuesday, reaching $94.71. The stock had a trading volume of 1,781,929 shares, compared to its average volume of 2,212,478. State Street Co. has a 1-year low of $68.99 and a 1-year high of $98.45. 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 company has a market capitalization of $27.76 billion, a P/E ratio of 15.09, a PEG ratio of 1.18 and a beta of 1.46. The firm has a fifty day moving average price of $90.25 and a 200 day moving average price of $82.42.

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

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.