FinTrust Capital Advisors LLC lessened its holdings in shares of State Street Co. (NYSE:STT) by 78.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 526 shares of the asset manager’s stock after selling 1,871 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in State Street were worth $31,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in State Street by 19,603.4% during the third quarter. Exchange Traded Concepts LLC now owns 34,284 shares of the asset manager’s stock worth $2,034,000 after purchasing an additional 34,110 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of State Street by 51.0% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 8,340 shares of the asset manager’s stock valued at $495,000 after acquiring an additional 2,815 shares during the period. Kentucky Retirement Systems bought a new position in shares of State Street in the second quarter valued at approximately $1,245,000. Ziegler Capital Management LLC boosted its position in shares of State Street by 2.8% in the second quarter. Ziegler Capital Management LLC now owns 74,829 shares of the asset manager’s stock valued at $4,755,000 after acquiring an additional 2,050 shares during the period. Finally, Brookfield Asset Management Inc. bought a new position in shares of State Street in the second quarter valued at approximately $1,314,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.
STT stock opened at $67.95 on Friday. The company has a market capitalization of $23.97 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.04 and a beta of 1.54. State Street Co. has a one year low of $42.10 and a one year high of $85.89. The company’s 50 day moving average price is $64.39 and its two-hundred day moving average price is $63.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.54 and a current ratio of 0.50.
State Street (NYSE:STT) last posted its quarterly earnings results on Friday, October 16th. The asset manager reported $1.45 EPS for the quarter, topping the consensus estimate of $1.41 by $0.04. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.76 billion. State Street had a net margin of 20.75% and a return on equity of 12.24%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. On average, research analysts predict that State Street Co. will post 6.55 EPS for the current year.
In other State Street news, CEO Francisco Aristeguieta sold 62,183 shares of State Street stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $66.13, for a total transaction of $4,112,161.79. Following the transaction, the chief executive officer now directly owns 110,582 shares of the company’s stock, valued at $7,312,787.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.28% of the company’s stock.
STT has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of State Street from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Monday, October 19th. ValuEngine upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft upgraded shares of State Street from a “hold” rating to a “buy” rating and raised their price objective for the company from $67.00 to $80.00 in a research report on Wednesday, November 11th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $74.00 to $84.00 in a research report on Wednesday. Finally, UBS Group dropped their target price on shares of State Street from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $75.13.
About State Street
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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