State Street Co. (NYSE:STT) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in State Street Co. (NYSE:STT) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 51,056 shares of the asset manager’s stock after buying an additional 3,026 shares during the period. CIBC Asset Management Inc’s holdings in State Street were worth $4,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC bought a new position in shares of State Street in the first quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street in the second quarter valued at approximately $27,000. Versant Capital Management Inc boosted its holdings 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 acquiring an additional 416 shares in the last quarter. Trust Co. of Vermont boosted its holdings 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 acquiring an additional 200 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of State Street in the third quarter valued at approximately $54,000. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

NYSE:STT opened at $95.48 on Monday. State Street Co. has a 1 year low of $68.92 and a 1 year high of $98.45. The firm’s fifty day simple moving average is $90.00 and its 200 day simple moving average is $82.26. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $27.99 billion, a PE ratio of 15.08, a PEG ratio of 1.18 and a beta of 1.46.

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

Insider Buying and Selling at State Street

In other State Street news, 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 directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their price target on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.11.

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.