State Street Co. (NYSE:STT) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its position in State Street Co. (NYSE:STT) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 518,026 shares of the asset manager’s stock after selling 19,805 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of State Street worth $45,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of STT. Benjamin F. Edwards & Company Inc. raised its position in State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after buying an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of State Street by 9.3% during 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. raised its holdings in shares of State Street by 1.8% during 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. Mather Group LLC. boosted its holdings in State Street by 10.9% in the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 158 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in State Street by 1.4% in the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after purchasing an additional 158 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

State Street Trading Down 0.0 %

Shares of STT opened at $98.79 on Friday. State Street Co. has a 52-week low of $69.58 and a 52-week high of $99.50. The stock has a market cap 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’s fifty day moving average is $92.22 and its two-hundred day moving average is $83.54. 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 (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion for 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%. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. Research analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of State Street 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 owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction 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. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 in the last ninety days. Insiders own 0.31% of the company’s stock.

State Street 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.