King Luther Capital Management Corp decreased its holdings in shares of State Street Co. (NYSE:STT – Free Report) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,876 shares of the asset manager’s stock after selling 200 shares during the period. King Luther Capital Management Corp’s holdings in State Street were worth $1,316,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of STT. LSV Asset Management grew its position in shares of State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in State Street by 541.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after acquiring an additional 634,422 shares during the last quarter. Metropolis Capital Ltd increased its stake in State Street by 13.1% in the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares in the last quarter. National Bank of Canada FI raised its holdings in State Street by 443.1% in the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after purchasing an additional 363,399 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of State Street by 1,078.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock worth $22,642,000 after purchasing an additional 280,019 shares in the last quarter. 87.44% of the stock is owned by institutional investors.
Insider Activity at State Street
In other State Street 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 transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction 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 insiders.
State Street Trading Up 1.2 %
State Street (NYSE:STT – Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate 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 net margin of 9.87% and a return on equity of 12.02%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. As a group, equities analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on STT. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Barclays upped their price target on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.11.
View Our Latest Research Report on STT
About State Street
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.
Featured Stories
- Five stocks we like better than State Street
- How to Invest in Small Cap Stocks
- Vertiv’s Cool Tech Makes Its Stock Red-Hot
- Where Do I Find 52-Week Highs and Lows?
- MarketBeat Week in Review – 11/18 – 11/22
- How to Calculate Stock Profit
- 2 Finance Stocks With Competitive Advantages You Can’t Ignore
Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT – Free Report).
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.