State Street Co. (NYSE:STT) Shares Purchased by Verity & Verity LLC

Verity & Verity LLC raised its stake in shares of State Street Co. (NYSE:STT - Free Report) by 26.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 239,797 shares of the asset manager's stock after buying an additional 49,505 shares during the period. State Street comprises about 2.1% of Verity & Verity LLC's portfolio, making the stock its 13th largest holding. Verity & Verity LLC owned 0.08% of State Street worth $21,215,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp raised its position in State Street by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager's stock valued at $15,376,000 after acquiring an additional 6,363 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of State Street by 127.8% in the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager's stock valued at $3,433,000 after purchasing an additional 24,906 shares during the period. Bayesian Capital Management LP purchased a new stake in State Street during the first quarter worth $908,000. Asset Management One Co. Ltd. grew its position in State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager's stock valued at $12,124,000 after buying an additional 20,183 shares during the period. Finally, KBC Group NV increased its holdings in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock valued at $6,607,000 after buying an additional 12,707 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on STT. Citigroup increased their target price on shares of State Street from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on State Street from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company increased 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. Finally, The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $92.11.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction 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 sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company's stock.

State Street Price Performance

Shares of NYSE:STT traded down $1.41 during midday trading on Tuesday, hitting $94.71. The company had a trading volume of 1,781,929 shares, compared to its average volume of 2,212,478. The business's 50-day simple moving average is $90.48 and its 200-day simple moving average is $82.57. The stock has a market cap of $27.76 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a twelve month low of $68.99 and a twelve month high of $98.45.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. The company's quarterly revenue was up 21.1% compared to the same quarter last year. On average, research analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

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.