AEGON ASSET MANAGEMENT UK Plc Sells 164,097 Shares of State Street Co. (NYSE:STT)

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in shares of State Street Co. (NYSE:STT) by 34.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,159 shares of the asset manager’s stock after selling 164,097 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in State Street were worth $27,711,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of State Street by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after purchasing an additional 6,363 shares during the last quarter. M&G Plc bought a new position in State Street during the 1st quarter valued at approximately $7,626,000. Cetera Investment Advisers raised its stake in State Street by 127.8% during the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after buying an additional 24,906 shares during the last quarter. Forsta AP Fonden boosted its holdings in State Street by 19.7% in the first quarter. Forsta AP Fonden now owns 75,900 shares of the asset manager’s stock worth $5,869,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of State Street by 44.7% in the first quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager’s stock worth $2,377,000 after acquiring an additional 9,499 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of State Street 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America upped their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their price target 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. Evercore ISI upped 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. Finally, Citigroup lifted their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.39.

State Street Trading Down 0.4 %

State Street stock opened at $94.78 on Friday. State Street Co. has a 52-week low of $66.27 and a 52-week high of $98.45. The company has a market cap of $27.78 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.24 and a beta of 1.46. 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 business has a 50-day simple moving average of $89.02 and a two-hundred day simple moving average of $81.38.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the business posted $1.93 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Analysts predict that State Street Co. will post 8.38 EPS for the current year.

State Street 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.