Amalgamated Bank Has $5.20 Million Stake in State Street Co. (NYSE:STT)

Amalgamated Bank reduced its stake in State Street Co. (NYSE:STT) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,823 shares of the asset manager’s stock after selling 2,417 shares during the period. Amalgamated Bank’s holdings in State Street were worth $5,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LSV Asset Management boosted its position in State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of State Street by 541.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after acquiring an additional 634,422 shares in the last quarter. Lazard Asset Management LLC grew its position in State Street by 168.7% during the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after acquiring an additional 507,270 shares during the last quarter. Metropolis Capital Ltd increased its holdings in State Street by 13.1% in the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after purchasing an additional 479,205 shares in the last quarter. Finally, National Bank of Canada FI raised its position in State Street by 443.1% in the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock valued at $32,765,000 after purchasing an additional 363,399 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Activity 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 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 owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STT shares. Morgan Stanley boosted their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their price objective on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Finally, Bank of America lifted their target price on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $91.39.

State Street Stock Performance

Shares of STT stock opened at $95.12 on Friday. The firm has a 50 day moving average of $88.68 and a 200-day moving average of $81.15. The company has a market cap of $27.88 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52 week low of $66.00 and a 52 week high of $98.45.

State Street (NYSE:STT) last posted its quarterly earnings results 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the company posted $1.93 earnings per share. The business’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities analysts forecast that State Street Co. will post 8.38 earnings per share for the current year.

State Street 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.