International Assets Investment Management LLC Grows Position in State Street Co. (NYSE:STT)

International Assets Investment Management LLC lifted its holdings in shares of State Street Co. (NYSE:STT) by 15,129.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,439 shares of the asset manager’s stock after purchasing an additional 32,226 shares during the quarter. International Assets Investment Management LLC’s holdings in State Street were worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. 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. Versant Capital Management Inc boosted its holdings in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares during the period. Trust Co. of Vermont boosted its holdings 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 acquiring an additional 200 shares during the period. Finally, Family Firm Inc. purchased a new position in State Street during the 2nd quarter valued at about $61,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada raised their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Evercore ISI raised their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays raised 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. 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 company’s stock. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and an average price target of $91.39.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $92.80 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $65.16 and a fifty-two week high of $94.60. The firm has a market capitalization of $27.71 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. The stock’s 50-day simple moving average is $88.14 and its 200-day simple moving average is $80.71.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the company earned $1.93 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts forecast that State Street Co. will post 8.38 EPS for the current fiscal year.

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.