Moors & Cabot Inc. Buys 549 Shares of State Street Co. (NYSE:STT)

Moors & Cabot Inc. raised its stake in State Street Co. (NYSE:STT) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,201 shares of the asset manager’s stock after acquiring an additional 549 shares during the period. Moors & Cabot Inc.’s holdings in State Street were worth $1,610,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its position in State Street by 9.4% in the third quarter. Advisors Asset Management Inc. now owns 24,696 shares of the asset manager’s stock valued at $2,185,000 after acquiring an additional 2,124 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in State Street in the third quarter valued at $3,565,000. Banque Cantonale Vaudoise grew its position in State Street by 118.9% in the third quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after acquiring an additional 23,171 shares during the period. Verity & Verity LLC grew its position in State Street by 26.0% in the third quarter. Verity & Verity LLC now owns 239,797 shares of the asset manager’s stock valued at $21,215,000 after acquiring an additional 49,505 shares during the period. Finally, Meeder Asset Management Inc. grew its position in State Street by 26.9% in the third quarter. Meeder Asset Management Inc. now owns 209,391 shares of the asset manager’s stock valued at $18,525,000 after acquiring an additional 44,330 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Trading Up 0.6 %

NYSE:STT opened at $95.30 on Thursday. State Street Co. has a 1-year low of $68.99 and a 1-year high of $98.45. The business’s 50-day moving average price is $90.73 and its two-hundred day moving average price is $82.65. 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 $27.94 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.17 and a beta of 1.46.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on STT. The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $92.11.

Insiders Place Their Bets

In related news, EVP John Plansky sold 13,859 shares of the 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 completion of the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.