Arjuna Capital Sells 167 Shares of State Street Co. (NYSE:STT)

Arjuna Capital lessened its stake in shares of State Street Co. (NYSE:STT) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,601 shares of the asset manager’s stock after selling 167 shares during the quarter. Arjuna Capital’s holdings in State Street were worth $672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new stake in State Street during the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street during the 2nd quarter valued at $27,000. Versant Capital Management Inc increased its holdings in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares in the last quarter. Trust Co. of Vermont increased its holdings in State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of State Street in the 3rd quarter valued at $54,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STT. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays lifted their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.96.

State Street Trading Up 0.8 %

NYSE:STT traded up $0.72 during trading hours on Wednesday, hitting $95.91. The stock had a trading volume of 164,569 shares, compared to its average volume of 2,213,948. State Street Co. has a one year low of $68.00 and a one year high of $98.45. 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 company has a market cap of $28.12 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.23 and a beta of 1.46. The business’s 50 day moving average is $89.39 and its 200-day moving average is $81.80.

State Street (NYSE:STT) last released its quarterly 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. The company 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%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 earnings per share. Sell-side analysts anticipate that State Street Co. will post 8.42 EPS for the current fiscal year.

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.