Fiduciary Trust Co Decreases Stake in State Street Co. (NYSE:STT)

Fiduciary Trust Co trimmed its holdings in shares of State Street Co. (NYSE:STT) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,177 shares of the asset manager’s stock after selling 512 shares during the quarter. Fiduciary Trust Co owned 0.05% of State Street worth $13,640,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC bought a new position in State Street during the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street in the 2nd quarter valued at about $27,000. Coastline Trust Co bought a new position in shares of State Street during the third quarter worth about $44,000. Versant Capital Management Inc grew its stake in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in State Street in the third quarter worth about $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

NYSE STT opened at $98.79 on Thursday. The company has a 50-day moving average price of $92.03 and a two-hundred day moving average price of $83.43. The stock has a market cap of $28.96 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52 week low of $69.58 and a 52 week high of $99.50.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Analysts forecast that State Street Co. will post 8.42 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on STT. Barclays upped their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley lifted their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group lifted their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $92.11.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,460 shares of company stock valued at $2,499,860. Company insiders own 0.31% of the company’s stock.

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.