State Street Co. (NYSE:STT) Holdings Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in State Street Co. (NYSE:STT) by 0.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 402,376 shares of the asset manager’s stock after selling 2,475 shares during the quarter. Victory Capital Management Inc.’s holdings in State Street were worth $35,598,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in State Street by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock worth $15,376,000 after purchasing an additional 6,363 shares in the last quarter. M&G Plc acquired a new stake in shares of State Street in the first quarter valued at $7,626,000. Cetera Investment Advisers boosted its position in shares of State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after purchasing an additional 24,906 shares in the last quarter. Edgestream Partners L.P. grew its position in State Street by 44.7% in the first quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager’s stock worth $2,377,000 after buying an additional 9,499 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of State Street during the 1st quarter valued at $908,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was 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 in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

State Street Trading Up 1.4 %

State Street stock opened at $95.48 on Friday. State Street Co. has a 12 month low of $68.92 and a 12 month high of $98.45. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market cap of $27.99 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 1.46. The company’s fifty day simple moving average is $90.00 and its 200-day simple moving average is $82.13.

State Street (NYSE:STT) last issued its 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. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, sell-side analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on STT shares. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday. Barclays raised their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.11.

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.