State Street Co. (NYSE:STT) Stock Holdings Lowered by Fiduciary Trust Co

Fiduciary Trust Co trimmed its holdings in shares of State Street Co. (NYSE:STT) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 154,177 shares of the asset manager’s stock after selling 512 shares during the quarter. Fiduciary Trust Co’s holdings in State Street were worth $13,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in STT. Cetera Investment Advisers boosted its stake in shares of State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after acquiring an additional 24,906 shares in the last quarter. KBC Group NV lifted its holdings in shares of State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the period. Ensign Peak Advisors Inc increased its stake in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after purchasing an additional 20,968 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity 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 stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,460 shares of company stock valued at $2,499,860. Insiders own 0.31% of the company’s stock.

State Street Stock Down 0.0 %

STT opened at $98.79 on Thursday. The company has a market capitalization of $28.96 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The business has a 50-day moving average of $92.03 and a 200-day moving average of $83.43. State Street Co. has a fifty-two week low of $69.58 and a fifty-two week high of $99.50. 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 (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 the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates 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 for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. Equities research analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on STT. Wells Fargo & Company upped their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley increased their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.11.

State Street Company 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.