Bank of Montreal Can Cuts Stock Holdings in State Street Co. (NYSE:STT)

Bank of Montreal Can reduced its position in shares of State Street Co. (NYSE:STT) by 31.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,399 shares of the asset manager’s stock after selling 210,311 shares during the period. Bank of Montreal Can owned 0.16% of State Street worth $41,136,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of STT. LRI Investments LLC purchased a new stake in State Street during the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street in the second quarter valued at approximately $27,000. Versant Capital Management Inc grew its position in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of State Street in the third quarter valued at approximately $44,000. Finally, Trust Co. of Vermont grew its position in shares of State Street by 44.4% in the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on STT shares. Barclays upped their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped 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. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average price target of $92.11.

State Street Stock Down 0.0 %

NYSE:STT opened at $98.79 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock’s fifty day moving average is $92.22 and its two-hundred day moving average is $83.54. State Street Co. has a 52 week low of $69.58 and a 52 week high of $99.50. The stock has a market capitalization of $28.96 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $1.93 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. Research analysts anticipate that State Street Co. will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock worth $2,499,860 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

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.