State Street Co. (NYSE:STT) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its holdings in State Street Co. (NYSE:STT) by 27,157.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,908 shares of the asset manager’s stock after buying an additional 1,901 shares during the period. Harvest Fund Management Co. Ltd’s holdings in State Street were worth $169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of State Street in the first quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new position in State Street during the second quarter worth approximately $27,000. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 416 shares during the period. Coastline Trust Co acquired a new stake in shares of State Street during the 3rd quarter worth $44,000. Finally, Trust Co. of Vermont increased its holdings in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of NYSE STT opened at $98.79 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a twelve month low of $69.58 and a twelve month high of $99.50. The company has a market capitalization of $28.96 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46. The firm has a 50-day moving average of $92.03 and a two-hundred day moving average of $83.43.

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, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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 approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock valued at $2,499,860 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STT has been the subject of a number of research reports. Evercore ISI boosted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price target on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley raised their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average price target of $92.11.

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.