State Street Co. (NYSE:STT) Shares Purchased by Prana Capital Management LP

Prana Capital Management LP raised its position in State Street Co. (NYSE:STT) by 26.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 434,017 shares of the asset manager’s stock after purchasing an additional 90,589 shares during the period. State Street accounts for approximately 1.8% of Prana Capital Management LP’s portfolio, making the stock its 20th biggest holding. Prana Capital Management LP owned approximately 0.15% of State Street worth $38,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street in the second quarter valued at about $27,000. Coastline Trust Co purchased a new position in State Street in the third quarter worth approximately $44,000. Capital Performance Advisors LLP acquired a new stake in State Street during the third quarter worth $54,000. Family Firm Inc. purchased a new stake in State Street in the second quarter valued at $61,000. Finally, LRI Investments LLC increased its position in shares of State Street by 202.7% during the 2nd 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. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the firm’s 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 sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents 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. Insiders own 0.31% of the company’s stock.

State Street Stock Down 0.3 %

State Street stock opened at $97.77 on Wednesday. The company has a market capitalization of $28.66 billion, a P/E ratio of 15.45, 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 $99.50. The stock has a 50-day simple moving average of $92.78 and a 200-day simple moving average of $84.07. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. Equities research analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

STT has been the subject of several research analyst reports. 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 note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their price objective on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.68.

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.