Creative Planning Increases Stock Holdings in State Street Co. (NYSE:STT)

Creative Planning boosted its position in shares of State Street Co. (NYSE:STT) by 13.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,870 shares of the asset manager’s stock after acquiring an additional 2,470 shares during the quarter. Creative Planning’s holdings in State Street were worth $1,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in State Street in the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the 2nd quarter valued at about $27,000. Versant Capital Management Inc raised its position in State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares in the last quarter. Trust Co. of Vermont raised its position in State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in State Street in the 2nd quarter valued at about $61,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Trading Up 2.9 %

Shares of STT stock opened at $92.98 on Tuesday. The business’s 50 day moving average is $87.27 and its two-hundred day moving average is $80.24. State Street Co. has a twelve month low of $62.99 and a twelve month high of $94.60. The company has a market capitalization of $27.77 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last announced its earnings results 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. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the business posted $1.93 EPS. The company’s revenue was up 21.1% on a year-over-year basis. Equities analysts forecast that State Street Co. will post 8.38 EPS for the current year.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STT shares. Barclays increased their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research reissued an “underperform” rating and set a $73.00 target price on shares of State Street in a research report on Monday, July 8th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.39.

State Street 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.