Pine Valley Investments Ltd Liability Co Sells 26,947 Shares of State Street Co. (NYSE:STT)

Pine Valley Investments Ltd Liability Co trimmed its holdings in shares of State Street Co. (NYSE:STT) by 76.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,113 shares of the asset manager’s stock after selling 26,947 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in State Street were worth $718,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of STT. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the 2nd quarter worth about $27,000. Coastline Trust Co bought a new stake in shares of State Street in the third quarter worth approximately $44,000. Capital Performance Advisors LLP purchased a new position in shares of State Street during the third quarter valued at approximately $54,000. Family Firm Inc. bought a new position in State Street during the second quarter valued at approximately $61,000. Finally, LRI Investments LLC boosted its holdings in State Street by 202.7% in the second quarter. LRI Investments LLC now owns 993 shares of the asset manager’s stock worth $73,000 after purchasing an additional 665 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STT. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company boosted their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays raised their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $97.32.

State Street Stock Down 0.1 %

Shares of STT stock opened at $100.48 on Friday. The company’s fifty day simple moving average is $94.68 and its two-hundred day simple moving average is $85.25. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The stock has a market cap of $29.45 billion, a P/E ratio of 15.87, a PEG ratio of 1.23 and a beta of 1.44. 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 results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.19 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. Analysts predict that State Street Co. will post 8.42 EPS for the current fiscal year.

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.