State Street Co. (NYSE:STT) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in shares of State Street Co. (NYSE:STT) by 9.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,018 shares of the asset manager’s stock after purchasing an additional 2,261 shares during the quarter. QRG Capital Management Inc.’s holdings in State Street were worth $2,302,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its position in State Street by 5.4% during 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 in the last quarter. Massmutual Trust Co. FSB ADV increased its position in State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares in the last quarter. Rockland Trust Co. increased its position in State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. increased its position in State Street by 10.9% during the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after purchasing an additional 158 shares in the last quarter. Finally, Covestor Ltd grew its position in State Street by 13.0% in the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $95.12 on Friday. The business’s fifty day moving average price is $88.68 and its 200 day moving average price is $81.15. State Street Co. has a 12-month low of $66.00 and a 12-month high of $98.45. The stock has a market capitalization of $27.88 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

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

Analyst Ratings Changes

STT has been the subject of several recent research reports. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price objective on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. 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 company. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $91.39.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

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.