State Street Co. (NYSE:STT) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its holdings in shares of State Street Co. (NYSE:STT) by 2,137.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,633 shares of the asset manager’s stock after purchasing an additional 1,560 shares during the period. Exchange Traded Concepts LLC’s holdings in State Street were worth $144,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in STT. LSV Asset Management increased its stake in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after purchasing an additional 634,422 shares during the last quarter. SG Americas Securities LLC increased its stake in State Street by 430.5% during the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock valued at $56,841,000 after purchasing an additional 596,567 shares during the last quarter. Lazard Asset Management LLC increased its stake in State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after purchasing an additional 507,270 shares during the last quarter. Finally, Metropolis Capital Ltd increased its stake in State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

STT stock opened at $89.86 on Wednesday. The company has a market capitalization of $27.07 billion, a P/E ratio of 16.83, a PEG ratio of 1.17 and a beta of 1.48. The company has a 50-day simple moving average of $86.37 and a 200 day simple moving average of $79.78. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $94.60. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. Sell-side analysts predict that State Street Co. will post 8.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STT. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two 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. According to MarketBeat, State Street currently has a consensus rating of “Hold” and a consensus target price of $91.39.

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.