Yacktman Asset Management LP Decreases Holdings in State Street Co. (NYSE:STT)

Yacktman Asset Management LP decreased its holdings in State Street Co. (NYSE:STT) by 7.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,967,829 shares of the asset manager’s stock after selling 255,528 shares during the period. State Street makes up about 2.7% of Yacktman Asset Management LP’s holdings, making the stock its 12th biggest holding. Yacktman Asset Management LP’s holdings in State Street were worth $262,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. LRI Investments LLC purchased a new position in State Street in the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of State Street in the second quarter worth $27,000. Versant Capital Management Inc raised its holdings in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after buying an additional 416 shares during the last quarter. Trust Co. of Vermont boosted its position in State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after buying an additional 200 shares during the period. Finally, Family Firm Inc. bought a new stake in State Street in the 2nd quarter worth $61,000. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the 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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Citigroup boosted their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $91.39.

State Street Price Performance

Shares of NYSE:STT opened at $92.26 on Tuesday. The business has a fifty day moving average price of $88.29 and a 200-day moving average price of $80.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $27.55 billion, a PE ratio of 14.58, a PEG ratio of 1.19 and a beta of 1.46. State Street Co. has a 1-year low of $66.00 and a 1-year high of $94.60.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates 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%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business earned $1.93 EPS. As a group, equities analysts expect that State Street Co. will post 8.38 EPS for the current fiscal year.

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.