State Street Co. (NYSE:STT) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in shares of State Street Co. (NYSE:STT) by 17.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,545 shares of the asset manager’s stock after purchasing an additional 529 shares during the period. Sequoia Financial Advisors LLC’s holdings in State Street were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

State Street Price Performance

Shares of STT opened at $92.98 on Tuesday. State Street Co. has a twelve month low of $62.99 and a twelve month high of $94.60. The firm’s fifty day simple moving average is $87.27 and its 200-day simple moving average is $80.24. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 14.69, a PEG 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 quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the business earned $1.93 EPS. State Street’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities analysts forecast that State Street Co. will post 8.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Citigroup increased their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Bank of America increased their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $73.00 price objective on shares of State Street in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.