85,265 Shares in State Street Co. (NYSE:STT) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd acquired a new position in shares of State Street Co. (NYSE:STT) during the 3rd quarter, Holdings Channel reports. The fund acquired 85,265 shares of the asset manager’s stock, valued at approximately $7,543,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in State Street in the first quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the second quarter worth about $27,000. Versant Capital Management Inc grew its position in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of State Street during the third quarter valued at $44,000. Finally, Trust Co. of Vermont grew its stake in 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. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity at State Street

In related 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 transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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.

Analyst Ratings Changes

STT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays boosted their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley boosted their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $92.11.

State Street Stock Performance

STT opened at $98.51 on Friday. The stock’s 50 day simple moving average is $92.42 and its 200 day simple moving average is $83.75. The stock has a market cap of $28.88 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.22 and a beta of 1.46. State Street Co. has a 1-year low of $70.20 and a 1-year high of $99.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

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

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.