State Street Co. (NYSE:STT) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lessened its stake in shares of State Street Co. (NYSE:STT) by 46.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,992 shares of the asset manager’s stock after selling 13,632 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in State Street were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of STT. LRI Investments LLC purchased a new position in shares of State Street during the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of State Street during the 2nd quarter worth $27,000. Norwood Financial Corp purchased a new position in shares of State Street during the 1st quarter worth $35,000. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 416 shares during the period. Finally, Trust Co. of Vermont raised its holdings in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $91.45 on Thursday. State Street Co. has a one year low of $62.78 and a one year high of $94.60. The company has a market cap of $27.55 billion, a PE ratio of 17.13, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. The business has a 50-day simple moving average of $86.62 and a 200-day simple moving average of $79.86.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The company 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 firm’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. On average, equities research analysts forecast that State Street Co. will post 8.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

STT has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective 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. Bank of America boosted their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Wolfe Research restated an “underperform” rating and issued a $73.00 price objective on shares of State Street in a report on Monday, July 8th. Royal Bank of Canada boosted their price objective on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.39.

Insider Buying and Selling at State Street

In other State Street 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by insiders.

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.