Ferguson Wellman Capital Management Inc. Has $90.96 Million Stock Holdings in State Street Co. (NYSE:STT)

Ferguson Wellman Capital Management Inc. lifted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 29.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,028,149 shares of the asset manager's stock after buying an additional 231,504 shares during the quarter. State Street comprises approximately 1.8% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 15th biggest holding. Ferguson Wellman Capital Management Inc. owned about 0.35% of State Street worth $90,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in 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 last quarter. Empowered Funds LLC boosted its stake in State Street by 14.9% during the 1st quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager's stock worth $296,000 after acquiring an additional 498 shares during the last quarter. Entropy Technologies LP acquired a new position in State Street during the first quarter valued at approximately $339,000. State Board of Administration of Florida Retirement System increased its stake in State Street by 6.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 397,186 shares of the asset manager's stock valued at $30,063,000 after purchasing an additional 24,210 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in State Street by 15.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 366,434 shares of the asset manager's stock worth $28,333,000 after purchasing an additional 50,034 shares during the period. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 value 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 approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.

State Street Stock Performance

NYSE:STT traded down $0.99 on Thursday, hitting $94.18. The company's stock had a trading volume of 1,369,090 shares, compared to its average volume of 2,216,880. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a one year low of $68.92 and a one year high of $98.45. The stock has a fifty day moving average of $89.58 and a two-hundred day moving average of $81.89. The firm has a market capitalization of $27.61 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.46.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley upped their price objective on shares of State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their price target on State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Evercore ISI raised 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. Barclays boosted their price objective on State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a report on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned 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.

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.