State Street Co. (NYSE:STT) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. trimmed its holdings in State Street Co. (NYSE:STT) by 17.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,752 shares of the asset manager’s stock after selling 2,048 shares during the period. Northwest & Ethical Investments L.P.’s holdings in State Street were worth $863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of State Street in the first quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street in the 2nd quarter valued at $27,000. Versant Capital Management Inc increased its holdings 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 worth $38,000 after buying an additional 416 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of State Street during the 3rd quarter worth $44,000. Finally, Trust Co. of Vermont raised its position in shares of State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.3 %

NYSE:STT opened at $98.51 on Friday. State Street Co. has a one year low of $70.20 and a one year high of $99.50. The business’s 50-day simple moving average is $92.42 and its 200 day simple moving average is $83.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $28.88 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

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

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock valued at $2,499,860 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on STT shares. Evercore ISI upped their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays increased their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.