State Street Co. (NYSE:STT) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co decreased its position in shares of State Street Co. (NYSE:STT) by 66.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,700 shares of the asset manager’s stock after selling 11,157 shares during the quarter. Paloma Partners Management Co’s holdings in State Street were worth $504,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of STT. Benjamin F. Edwards & Company Inc. grew its position in State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after buying an additional 148 shares in the last quarter. Rockland Trust Co. raised its stake in State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. boosted its position in State Street by 10.9% during the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares during the period. Finally, Empirical Finance LLC grew its stake in shares of State Street by 1.4% in the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 transaction, the executive vice president now 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 SEC, which is available through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

Shares of STT opened at $97.77 on Wednesday. The company has a 50-day moving average of $92.78 and a two-hundred day moving average of $84.07. The stock has a market cap of $28.66 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.21 and a beta of 1.44. 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 Co. has a one year low of $70.20 and a one year high of $99.50.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STT. Barclays upped their price objective 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. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a report on Tuesday. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley boosted their price objective 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.68.

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.