Caprock Group LLC Sells 5,297 Shares of State Street Co. (NYSE:STT)

Caprock Group LLC reduced its stake in shares of State Street Co. (NYSE:STT) by 29.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,659 shares of the asset manager’s stock after selling 5,297 shares during the quarter. Caprock Group LLC’s holdings in State Street were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of STT. LSV Asset Management lifted its stake 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 worth $390,897,000 after purchasing an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd increased its holdings in State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares during the period. Cooke & Bieler LP lifted its position in shares of State Street by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock worth $262,795,000 after purchasing an additional 105,222 shares during the period. Dimensional Fund Advisors LP boosted its position in State Street by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after purchasing an additional 259,729 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of State Street by 11.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,901,788 shares of the asset manager’s stock valued at $140,732,000 after buying an additional 191,679 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Activity

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 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of several recent analyst reports. Barclays upped their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.11.

State Street Trading Up 1.1 %

NYSE STT opened at $96.34 on Friday. State Street Co. has a 52 week low of $68.99 and a 52 week high of $98.45. The firm has a 50 day moving average of $91.01 and a two-hundred day moving average of $82.75. The stock has a market capitalization of $28.24 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.17 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 (NYSE:STT) last posted its 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. As a group, research analysts expect that State Street Co. will post 8.42 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.