Public Sector Pension Investment Board Raises Holdings in State Street Co. (NYSE:STT)

Public Sector Pension Investment Board increased its holdings in State Street Co. (NYSE:STT) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,286 shares of the asset manager’s stock after buying an additional 1,200 shares during the period. Public Sector Pension Investment Board’s holdings in State Street were worth $4,626,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position in shares of State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after acquiring an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in State Street by 9.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares in the last quarter. Rockland Trust Co. lifted its position in shares of State Street by 1.8% during the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of State Street by 10.9% in the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after buying an additional 158 shares in the last quarter. Finally, Empirical Finance LLC grew its position in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.3 %

Shares of State Street stock opened at $98.51 on Monday. State Street Co. has a 1 year low of $70.20 and a 1 year 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. The stock has a market cap of $28.88 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The firm has a fifty day moving average price of $92.42 and a 200 day moving average price of $83.79.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during 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 revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Equities research analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

STT has been the subject of several recent analyst reports. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barclays raised their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.11.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of the 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 owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by company insiders.

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.