State Street Co. (NYSE:STT) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in State Street Co. (NYSE:STT) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,685 shares of the asset manager’s stock after selling 103,226 shares during the quarter. Intech Investment Management LLC’s holdings in State Street were worth $6,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Advisors Asset Management Inc. raised its holdings in shares of State Street by 35.7% in the first quarter. Advisors Asset Management Inc. now owns 16,253 shares of the asset manager’s stock valued at $1,257,000 after buying an additional 4,276 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in State Street by 108.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 615,514 shares of the asset manager’s stock worth $47,592,000 after acquiring an additional 320,414 shares during the period. LRI Investments LLC acquired a new stake in State Street during the 1st quarter worth approximately $73,000. Lazard Asset Management LLC increased its holdings in shares of State Street by 168.7% in the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after purchasing an additional 507,270 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of State Street by 22.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 576,333 shares of the asset manager’s stock worth $44,563,000 after purchasing an additional 105,710 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $97.50 on Friday. 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 Co. has a fifty-two week low of $69.56 and a fifty-two week high of $98.45. The business has a fifty day moving average of $91.29 and a 200-day moving average of $82.90. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share 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 firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, analysts predict that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

STT has been the topic of several recent research reports. Evercore ISI boosted their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Morgan Stanley upped their price objective on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.11.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated 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 completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

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.