State Street Co. (NYSE:STT) Shares Bought by Prana Capital Management LP

Prana Capital Management LP grew its position in State Street Co. (NYSE:STT) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 434,017 shares of the asset manager’s stock after buying an additional 90,589 shares during the quarter. State Street accounts for approximately 1.8% of Prana Capital Management LP’s holdings, making the stock its 20th biggest holding. Prana Capital Management LP’s holdings in State Street were worth $38,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street during the 2nd quarter worth approximately $27,000. Coastline Trust Co purchased a new position in State Street in the 3rd quarter valued at about $44,000. Capital Performance Advisors LLP acquired a new stake in shares of State Street during the 3rd quarter worth about $54,000. Family Firm Inc. purchased a new stake in shares of State Street during the second quarter worth about $61,000. Finally, LRI Investments LLC lifted its stake in shares of State Street by 202.7% during the second quarter. LRI Investments LLC now owns 993 shares of the asset manager’s stock valued at $73,000 after buying an additional 665 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 0.3 %

NYSE STT opened at $97.77 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a one year low of $70.20 and a one year high of $99.50. The company has a 50-day simple moving average of $92.78 and a 200-day simple moving average of $84.07. The firm has a market capitalization of $28.66 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44.

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

Insider Activity

In other State Street 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 transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on STT. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company upped their price target on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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. The Goldman Sachs Group boosted their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Barclays raised their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.68.

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.