State Street Co. (NYSE:STT) Shares Acquired by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC increased its holdings in shares of State Street Co. (NYSE:STT) by 68.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 310,634 shares of the asset manager’s stock after acquiring an additional 126,005 shares during the period. Worldquant Millennium Advisors LLC’s holdings in State Street were worth $27,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers raised its stake in State Street by 127.8% during the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after purchasing an additional 24,906 shares during the period. CWM LLC increased its holdings in State Street by 57.3% in the 2nd quarter. CWM LLC now owns 10,123 shares of the asset manager’s stock valued at $749,000 after purchasing an additional 3,688 shares during the last quarter. Czech National Bank raised its position in State Street by 8.1% in the second quarter. Czech National Bank now owns 57,408 shares of the asset manager’s stock valued at $4,248,000 after purchasing an additional 4,281 shares during the period. LVW Advisors LLC lifted its stake in State Street by 18.5% during the second quarter. LVW Advisors LLC now owns 6,239 shares of the asset manager’s stock worth $462,000 after purchasing an additional 974 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of State Street by 7.0% in the second quarter. Sequoia Financial Advisors LLC now owns 3,016 shares of the asset manager’s stock valued at $223,000 after buying an additional 197 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a research report on Tuesday. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Monday, December 2nd. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays raised their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.68.

State Street Stock Performance

Shares of STT opened at $98.39 on Friday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $99.75. The stock has a market capitalization of $28.84 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company’s fifty day moving average is $93.17 and its two-hundred day moving average is $84.27.

State Street (NYSE:STT) last issued its quarterly 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 earnings per share. On average, sell-side analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the 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. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,460 shares of company stock worth $2,499,860. Company insiders own 0.31% of the company’s stock.

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.