Charles Schwab Investment Management Inc. Trims Position in State Street Co. (NYSE:STT)

Charles Schwab Investment Management Inc. decreased its holdings in shares of State Street Co. (NYSE:STT) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,864,532 shares of the asset manager’s stock after selling 589 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.64% of State Street worth $164,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STT. LSV Asset Management grew its stake in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd lifted its holdings in shares of State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after purchasing an additional 479,205 shares during the period. National Bank of Canada FI grew its position in State Street by 443.1% in the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock valued at $32,765,000 after buying an additional 363,399 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in State Street by 1,078.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock valued at $22,642,000 after buying an additional 280,019 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in State Street by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock worth $224,466,000 after buying an additional 259,729 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

STT stock opened at $97.50 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day moving average price is $91.29 and its 200 day moving average price is $83.01. The firm has a market cap of $28.58 billion, a P/E ratio of 15.40, a PEG ratio of 1.19 and a beta of 1.46. State Street Co. has a 1 year low of $69.56 and a 1 year high of $98.45.

State Street (NYSE:STT) 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. 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 last year, the company earned $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley boosted their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays increased their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $92.11.

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.