Raymond James & Associates Sells 134 Shares of State Street Co. (NYSE:STT)

Raymond James & Associates decreased its holdings in shares of State Street Co. (NYSE:STT) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,338 shares of the asset manager’s stock after selling 134 shares during the period. Raymond James & Associates’ holdings in State Street were worth $7,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

State Street Price Performance

NYSE STT opened at $92.95 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. The firm’s 50 day moving average price is $87.76 and its 200-day moving average price is $80.44. State Street Co. has a 52-week low of $63.57 and a 52-week high of $94.60. The company has a market cap of $27.76 billion, a PE ratio of 14.68, a P/E/G ratio of 1.16 and a beta of 1.48.

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. The company 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%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share. Sell-side analysts forecast that State Street Co. will post 8.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their target price on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street 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.