Edgestream Partners L.P. Sells 72,833 Shares of State Street Co. (NYSE:STT)

Edgestream Partners L.P. reduced its stake in shares of State Street Co. (NYSE:STT) by 93.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,835 shares of the asset manager’s stock after selling 72,833 shares during the quarter. Edgestream Partners L.P.’s holdings in State Street were worth $428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in State Street during the second quarter valued at approximately $27,000. Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at $44,000. Capital Performance Advisors LLP bought a new stake in shares of State Street in the 3rd quarter valued at $54,000. Family Firm Inc. bought a new stake in shares of State Street in the 2nd quarter valued at $61,000. Finally, Tobam acquired a new stake in State Street during the 3rd quarter worth $77,000. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of NYSE STT opened at $98.60 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50-day moving average of $93.17 and a 200-day moving average of $84.27. The stock has a market capitalization of $28.90 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.21 and a beta of 1.44. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $99.75.

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

Wall Street Analyst Weigh In

STT has been the subject of several recent analyst reports. Barclays increased their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price target 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. The Goldman Sachs Group increased their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $105.00 to $120.00 in a research report on Tuesday. Two 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.68.

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. Insiders own 0.31% of the company’s stock.

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.