State Street Co. (NYSE:STT) Shares Acquired by Eastern Bank

Eastern Bank boosted its holdings in shares of State Street Co. (NYSE:STT) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,299 shares of the asset manager’s stock after purchasing an additional 593 shares during the period. Eastern Bank’s holdings in State Street were worth $3,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in State Street during the first quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street in the 2nd quarter valued at approximately $27,000. Norwood Financial Corp purchased a new stake in shares of State Street in the 1st quarter valued at approximately $35,000. Versant Capital Management Inc lifted its position in shares of State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 200 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

State Street Stock Performance

Shares of STT opened at $89.86 on Wednesday. The company’s fifty day moving average is $86.37 and its 200-day moving average is $79.78. State Street Co. has a 12 month low of $62.78 and a 12 month high of $94.60. The firm has a market cap of $27.07 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last announced 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 net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business posted $1.93 EPS. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts expect that State Street Co. will post 8.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STT. 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 report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their price target on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.39.

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.