Raymond James Trust N.A. Makes New $226,000 Investment in State Street Co. (NYSE:STT)

Raymond James Trust N.A. acquired a new stake in shares of State Street Co. (NYSE:STT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 2,550 shares of the asset manager’s stock, valued at approximately $226,000.

A number of other large investors also recently modified their holdings of STT. L & S Advisors Inc grew its position in State Street by 332.2% during the third quarter. L & S Advisors Inc now owns 126,793 shares of the asset manager’s stock valued at $11,217,000 after acquiring an additional 97,454 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of State Street by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock valued at $512,000 after purchasing an additional 184 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of State Street by 3.1% during the 3rd quarter. Moors & Cabot Inc. now owns 18,201 shares of the asset manager’s stock valued at $1,610,000 after purchasing an additional 549 shares during the last quarter. Advisors Asset Management Inc. raised its position in State Street by 9.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 24,696 shares of the asset manager’s stock worth $2,185,000 after purchasing an additional 2,124 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in State Street in the third quarter worth $3,565,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by company insiders.

State Street Price Performance

STT stock opened at $98.79 on Friday. 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 1 year low of $69.58 and a 1 year high of $99.50. The firm has a 50-day moving average of $92.22 and a 200 day moving average of $83.54. The company has a market cap of $28.96 billion, a P/E ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last released its earnings results 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 company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business posted $1.93 EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts forecast that State Street Co. will post 8.42 EPS for the current year.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company raised their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Barclays upped their price target on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.