State Street Co. (NYSE:STT) Position Lessened by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. reduced its stake in shares of State Street Co. (NYSE:STT) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,374 shares of the asset manager’s stock after selling 402 shares during the quarter. GHP Investment Advisors Inc.’s holdings in State Street were worth $299,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in STT. Benjamin F. Edwards & Company Inc. boosted its stake 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 period. HB Wealth Management LLC boosted its position in shares of State Street by 3.4% in the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after buying an additional 140 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of State Street by 9.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after buying an additional 148 shares in the last quarter. Rockland Trust Co. raised its position in State Street by 1.8% during the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after buying an additional 150 shares during the period. Finally, Mather Group LLC. lifted its stake in State Street by 10.9% in 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 in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STT. Barclays upped their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup upped their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their target price on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price objective on State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $91.39.

Insider Buying and Selling at State Street

In other 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 value of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Down 1.6 %

STT opened at $90.38 on Monday. The firm has a market cap of $27.23 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.15 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 moving average price of $87.03 and a 200 day moving average price of $80.10. State Street Co. has a twelve month low of $62.78 and a twelve month high of $94.60.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the company earned $1.93 earnings per share. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. Research analysts forecast that State Street Co. will post 8.38 EPS for the current year.

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.