Pitcairn Co. Has $2.20 Million Stock Position in State Street Co. (NYSE:STT)

Pitcairn Co. decreased its stake in State Street Co. (NYSE:STT) by 27.2% in the third quarter, HoldingsChannel reports. The firm owned 24,865 shares of the asset manager’s stock after selling 9,282 shares during the period. Pitcairn Co.’s holdings in State Street were worth $2,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of State Street in the first quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street in the 2nd quarter worth approximately $27,000. Coastline Trust Co acquired a new stake in shares of State Street during the 3rd quarter valued at $44,000. Versant Capital Management Inc boosted its stake in shares of 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 period. Finally, Capital Performance Advisors LLP purchased a new position in shares of State Street during the 3rd quarter valued at $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

STT opened at $97.50 on Friday. State Street Co. has a 12-month low of $69.56 and a 12-month high of $98.45. The firm has a market capitalization of $28.58 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. The stock’s 50 day moving average price is $91.29 and its two-hundred day moving average price is $82.96. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share 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 for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the firm earned $1.93 EPS. State Street’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

Analyst Ratings Changes

STT has been the subject of a number of research reports. Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price target on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley increased their target price on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.11.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

State Street Company 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.