Cerity Partners LLC Acquires 15,818 Shares of State Street Co. (NYSE:STT)

Cerity Partners LLC lifted its stake in State Street Co. (NYSE:STT) by 35.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,936 shares of the asset manager’s stock after purchasing an additional 15,818 shares during the period. Cerity Partners LLC’s holdings in State Street were worth $5,391,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STT. Cetera Investment Advisers boosted its position in State Street by 127.8% in the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after buying an additional 24,906 shares during the period. KBC Group NV boosted its holdings in shares of State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the period. Ensign Peak Advisors Inc grew its stake in State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on STT shares. Deutsche Bank Aktiengesellschaft raised their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI upped their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two investment 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’s stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Stock Down 0.0 %

STT stock opened at $98.79 on Friday. 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 $69.58 and a 52 week high of $99.50. The stock has a market capitalization of $28.96 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46. The firm has a 50 day moving average of $92.22 and a 200 day moving average of $83.54.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by insiders.

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.