Allspring Global Investments Holdings LLC Has $1.27 Million Holdings in State Street Co. (NYSE:STT)

Allspring Global Investments Holdings LLC trimmed its position in State Street Co. (NYSE:STT) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,370 shares of the asset manager’s stock after selling 328 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in State Street were worth $1,271,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ferguson Wellman Capital Management Inc. raised its holdings in shares of State Street by 18.5% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 943,726 shares of the asset manager’s stock valued at $83,491,000 after purchasing an additional 147,081 shares in the last quarter. Blue Trust Inc. raised its stake in shares of State Street by 55.6% in the 3rd quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock valued at $394,000 after acquiring an additional 1,591 shares in the last quarter. V Square Quantitative Management LLC boosted its position in State Street by 32.5% during the third quarter. V Square Quantitative Management LLC now owns 9,129 shares of the asset manager’s stock worth $808,000 after purchasing an additional 2,241 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in State Street by 2.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,417 shares of the asset manager’s stock valued at $2,779,000 after purchasing an additional 713 shares during the last quarter. Finally, Cardinal Capital Management raised its holdings in State Street by 1.1% in the 3rd quarter. Cardinal Capital Management now owns 53,728 shares of the asset manager’s stock worth $4,753,000 after acquiring an additional 571 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

State Street Stock Down 0.1 %

STT opened at $92.81 on Friday. The stock has a market cap of $27.71 billion, a PE ratio of 14.66, a P/E/G ratio of 1.16 and a beta of 1.48. The business’s fifty day simple moving average is $87.96 and its 200 day simple moving average is $80.53. 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 Co. has a 52 week low of $63.57 and a 52 week high of $94.60.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company posted $1.93 EPS. State Street’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, research analysts expect that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STT. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their target price on State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price objective on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.