Townsquare Capital LLC Makes New $351,000 Investment in State Street Co. (NYSE:STT)

Townsquare Capital LLC bought a new position in shares of State Street Co. (NYSE:STT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,969 shares of the asset manager’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STT. Tidal Investments LLC increased its stake in State Street by 6.7% during the first quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock worth $552,000 after acquiring an additional 448 shares during the last quarter. Cetera Investment Advisers increased its stake in State Street by 127.8% during the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after acquiring an additional 24,906 shares during the last quarter. Cetera Advisors LLC increased its stake in State Street by 546.5% during the first quarter. Cetera Advisors LLC now owns 21,018 shares of the asset manager’s stock worth $1,625,000 after acquiring an additional 17,767 shares during the last quarter. Mather Group LLC. increased its stake in State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares during the last quarter. Finally, CWM LLC grew its stake in shares of State Street by 57.3% in the second quarter. CWM LLC now owns 10,123 shares of the asset manager’s stock valued at $749,000 after buying an additional 3,688 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective 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 State Street from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley lifted their price objective on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a research note on Tuesday. Finally, Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $94.68.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 in the last ninety days. Insiders own 0.31% of the company’s stock.

State Street Stock Up 1.3 %

Shares of NYSE STT opened at $98.60 on Friday. The company has a market capitalization of $28.90 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50-day moving average of $93.17 and a two-hundred day moving average of $84.27. State Street Co. has a 1 year low of $70.20 and a 1 year high of $99.75.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 EPS. On average, analysts forecast that State Street Co. will post 8.42 earnings per share 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.