Pathstone Holdings LLC Has $6.60 Million Stake in State Street Co. (NYSE:STT)

Pathstone Holdings LLC increased its position in shares of State Street Co. (NYSE:STT) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,575 shares of the asset manager’s stock after buying an additional 856 shares during the period. Pathstone Holdings LLC’s holdings in State Street were worth $6,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of State Street by 35.7% during the 1st quarter. Advisors Asset Management Inc. now owns 16,253 shares of the asset manager’s stock valued at $1,257,000 after acquiring an additional 4,276 shares during the period. Canada Pension Plan Investment Board grew its position in State Street by 108.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 615,514 shares of the asset manager’s stock valued at $47,592,000 after purchasing an additional 320,414 shares during the period. LRI Investments LLC bought a new position in shares of State Street in the first quarter valued at $73,000. Lazard Asset Management LLC lifted its position in State Street by 168.7% in the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after acquiring an additional 507,270 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in State Street by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,333 shares of the asset manager’s stock valued at $44,563,000 after acquiring an additional 105,710 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other 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 completion of the transaction, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STT shares. Barclays lifted their target price 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. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley upped their target price on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Price Performance

Shares of STT stock opened at $97.50 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $28.58 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.17 and a beta of 1.46. The business’s 50 day moving average price is $91.29 and its 200-day moving average price is $82.90. State Street Co. has a fifty-two week low of $69.56 and a fifty-two week high of $98.45.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 EPS. On average, equities research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current 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.