State Street Co. (NYSE:STT) Stake Reduced by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of State Street Co. (NYSE:STT) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,786 shares of the asset manager’s stock after selling 3,329 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in State Street were worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Forsta AP Fonden grew its holdings in shares of State Street by 8.4% in the 3rd quarter. Forsta AP Fonden now owns 68,300 shares of the asset manager’s stock worth $6,043,000 after acquiring an additional 5,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after purchasing an additional 20,968 shares in the last quarter. Allworth Financial LP raised its holdings in State Street by 8.3% during the 3rd quarter. Allworth Financial LP now owns 2,425 shares of the asset manager’s stock worth $215,000 after buying an additional 185 shares during the period. apricus wealth LLC lifted its stake in State Street by 1.3% during the third quarter. apricus wealth LLC now owns 41,852 shares of the asset manager’s stock valued at $3,703,000 after buying an additional 547 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of State Street by 9.8% in the third quarter. Assenagon Asset Management S.A. now owns 10,661 shares of the asset manager’s stock worth $943,000 after buying an additional 954 shares during the period. 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 issued reports on STT shares. Barclays upped their price target 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. Morgan Stanley increased their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and issued a $73.00 price objective on shares of State Street in a research note on Monday, July 8th. Finally, Royal Bank of Canada raised their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $91.39.

State Street Price Performance

NYSE STT opened at $92.80 on Friday. The company has a 50 day moving average price of $88.14 and a two-hundred day moving average price of $80.71. State Street Co. has a 12-month low of $65.16 and a 12-month high of $94.60. The stock has a market capitalization of $27.71 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. 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 issued its quarterly earnings data 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 firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. As a group, equities analysts predict that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’s 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 directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

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.