State Street Co. (NYSE:STT) Position Lowered by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its holdings in State Street Co. (NYSE:STT) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,596 shares of the asset manager’s stock after selling 247 shares during the period. Prime Capital Investment Advisors LLC’s holdings in State Street were worth $230,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital International Investors lifted its holdings in State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after acquiring an additional 31,314 shares during the last quarter. LSV Asset Management lifted its holdings in State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after acquiring an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd lifted its holdings in State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares during the last quarter. Cooke & Bieler LP lifted its holdings in State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock worth $262,795,000 after acquiring an additional 105,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in State Street by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock worth $224,466,000 after acquiring an additional 259,729 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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 report on Friday. Citigroup boosted their price target on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Barclays raised their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, Evercore ISI raised their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $92.11.

State Street Stock Performance

STT opened at $95.48 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market cap of $27.99 billion, a PE ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 1.46. The business has a fifty day simple moving average of $90.00 and a 200-day simple moving average of $82.26. State Street Co. has a fifty-two week low of $68.92 and a fifty-two week high of $98.45.

State Street (NYSE:STT) last released its quarterly earnings results 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 business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the company posted $1.93 EPS. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities analysts predict that State Street Co. will post 8.42 EPS 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 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 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by insiders.

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.