State Street Co. (NYSE:STT) Shares Bought by Allworth Financial LP

Allworth Financial LP grew its holdings in State Street Co. (NYSE:STT) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,425 shares of the asset manager’s stock after purchasing an additional 185 shares during the quarter. Allworth Financial LP’s holdings in State Street were worth $215,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in State Street during the first quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street during the 2nd quarter worth about $27,000. Versant Capital Management Inc raised its stake in 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 purchasing an additional 416 shares during the last quarter. Trust Co. of Vermont raised its stake in 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 purchasing an additional 200 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in State Street in the 2nd quarter valued at about $61,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

State Street stock opened at $92.95 on Thursday. The firm has a fifty day moving average of $87.76 and a 200-day moving average of $80.44. State Street Co. has a 52-week low of $63.57 and a 52-week high of $94.60. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $27.76 billion, a P/E ratio of 14.68, a PEG ratio of 1.16 and a beta of 1.48.

State Street (NYSE:STT) 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. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 EPS. As a group, analysts predict that State Street Co. will post 8.38 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STT shares. Wolfe Research reissued an “underperform” rating and issued a $73.00 price objective on shares of State Street in a research report on Monday, July 8th. Morgan Stanley boosted their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.39.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

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.