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

Allworth Financial LP grew its holdings in shares of State Street Co. (NYSE:STT) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,425 shares of the asset manager’s stock after acquiring an additional 185 shares during the period. Allworth Financial LP’s holdings in State Street were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in STT. LRI Investments LLC bought a new position in State Street during the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in State Street in the second quarter worth about $27,000. Versant Capital Management Inc increased its holdings in 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 buying an additional 416 shares during the last quarter. Trust Co. of Vermont raised its stake in State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after buying an additional 200 shares in the last quarter. Finally, Family Firm Inc. bought a new position in State Street during the 2nd quarter worth approximately $61,000. Institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 in the company, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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.

State Street Stock Up 0.1 %

Shares of State Street stock opened at $92.95 on Thursday. 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 business’s fifty day moving average price is $87.76 and its two-hundred day moving average price is $80.44. The company 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 issued its quarterly earnings data 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. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. As a group, research analysts forecast that State Street Co. will post 8.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STT. 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. Citigroup increased their target price on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Evercore ISI lifted their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company lifted their target price on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $91.39.

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.