Forsta AP Fonden Acquires 5,300 Shares of State Street Co. (NYSE:STT)

Forsta AP Fonden lifted its position in State Street Co. (NYSE:STT) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,300 shares of the asset manager’s stock after purchasing an additional 5,300 shares during the quarter. Forsta AP Fonden’s holdings in State Street were worth $6,043,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of State Street by 5.4% in the second 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 during the last quarter. HB Wealth Management LLC increased its holdings in shares of State Street by 3.4% in the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after purchasing an additional 140 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of State Street by 9.3% in the second 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 during the last quarter. Rockland Trust Co. increased its holdings in shares of State Street by 1.8% in the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after purchasing an additional 150 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of State Street by 10.9% in the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after purchasing an additional 158 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Stock Up 2.9 %

Shares of NYSE:STT opened at $92.98 on Tuesday. State Street Co. has a 52-week low of $62.99 and a 52-week high of $94.60. The stock has a market cap of $27.77 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. The business’s 50 day moving average is $87.27 and its 200 day moving average is $80.24. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

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 company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. State Street’s revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that State Street Co. will post 8.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STT. Barclays boosted their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup boosted their price objective on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two research 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, the company has an average rating of “Hold” and an average target price of $91.39.

Insider Buying and Selling

In related 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 of the company’s stock, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is 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.