Intech Investment Management LLC lessened its holdings in State Street Co. (NYSE:STT - Free Report) by 58.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 72,685 shares of the asset manager's stock after selling 103,226 shares during the period. Intech Investment Management LLC's holdings in State Street were worth $6,430,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in State Street in the first quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the second quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager's stock worth $38,000 after purchasing an additional 416 shares during the last quarter. Coastline Trust Co purchased a new position in State Street during the 3rd quarter worth $44,000. Finally, Trust Co. of Vermont grew its stake in State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager's stock worth $48,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.
Insider Buying and Selling at State Street
In other news, EVP John Plansky sold 13,859 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.31% of the company's stock.
State Street Stock Performance
STT opened at $97.50 on Friday. State Street Co. has a 1 year low of $69.56 and a 1 year high of $98.45. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a fifty day moving average price of $91.29 and a 200 day moving average price of $82.90. The stock has a market cap of $28.58 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 1.46.
State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business's revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. Equities research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on STT. 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 report on Wednesday, October 16th. 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. Morgan Stanley raised their target price on State Street from $100.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, State Street has a consensus rating of "Hold" and a consensus price target of $92.11.
Check Out Our Latest Analysis on STT
About State Street
(
Free Report)
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.
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