Blue Trust Inc. Purchases 1,591 Shares of State Street Co. (NYSE:STT)

Blue Trust Inc. boosted its position in State Street Co. (NYSE:STT) by 55.6% in the third quarter, Holdings Channel.com reports. The firm owned 4,452 shares of the asset manager’s stock after buying an additional 1,591 shares during the quarter. Blue Trust Inc.’s holdings in State Street were worth $394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in State Street by 4.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock worth $72,789,000 after purchasing an additional 40,835 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock worth $15,376,000 after purchasing an additional 6,363 shares in the last quarter. M&G Plc bought a new position in State Street in the first quarter worth $7,626,000. Cetera Investment Advisers increased its holdings in shares of State Street by 127.8% during the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after acquiring an additional 24,906 shares in the last quarter. Finally, FORA Capital LLC increased its holdings in shares of State Street by 549.0% during the first quarter. FORA Capital LLC now owns 27,425 shares of the asset manager’s stock valued at $2,121,000 after acquiring an additional 23,199 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Trading Up 1.8 %

Shares of NYSE:STT opened at $91.45 on Thursday. The stock has a market capitalization of $27.55 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. The stock’s 50-day simple moving average is $86.62 and its two-hundred day simple moving average is $79.86. State Street Co. has a 52-week low of $62.78 and a 52-week high of $94.60.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm earned $1.93 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. Analysts expect that State Street Co. will post 8.36 EPS for the current year.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STT. Deutsche Bank Aktiengesellschaft raised their price target on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Bank of America raised their price target on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Finally, Citigroup raised their price target on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.39.

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.