Diversify Advisory Services LLC Lowers Position in State Street Co. (NYSE:STT)

Diversify Advisory Services LLC cut its stake in shares of State Street Co. (NYSE:STT) by 33.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,729 shares of the asset manager’s stock after selling 3,437 shares during the period. Diversify Advisory Services LLC’s holdings in State Street were worth $605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of STT. LRI Investments LLC purchased a new position in State Street during the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of State Street in the second quarter valued at about $27,000. Versant Capital Management Inc lifted its position in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of State Street by 44.4% in the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 200 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of State Street in the second quarter valued at about $61,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on STT shares. Bank of America boosted their price objective on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group boosted their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Evercore ISI boosted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup boosted their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus target price of $91.39.

State Street Trading Up 0.1 %

Shares of NYSE STT opened at $92.95 on Thursday. The business’s 50 day moving average is $87.76 and its two-hundred day moving average is $80.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54. State Street Co. has a 1-year low of $63.57 and a 1-year high of $94.60. The stock 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 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. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 earnings per share. As a group, research analysts expect that State Street Co. will post 8.38 EPS for the current year.

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.