Foster & Motley Inc. Sells 133 Shares of State Street Co. (NYSE:STT)

Foster & Motley Inc. lessened its position in State Street Co. (NYSE:STT) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,988 shares of the asset manager’s stock after selling 133 shares during the period. Foster & Motley Inc.’s holdings in State Street were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of STT. Mirae Asset Global Investments Co. Ltd. raised its holdings in State Street by 10.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,095 shares of the asset manager’s stock worth $4,287,000 after acquiring an additional 5,383 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of State Street by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 55,003 shares of the asset manager’s stock worth $4,253,000 after purchasing an additional 1,089 shares during the period. Duality Advisers LP increased its holdings in shares of State Street by 85.8% during the 1st quarter. Duality Advisers LP now owns 6,808 shares of the asset manager’s stock worth $526,000 after purchasing an additional 3,143 shares during the period. Empirical Finance LLC increased its holdings in shares of State Street by 3.0% during the 1st quarter. Empirical Finance LLC now owns 12,365 shares of the asset manager’s stock worth $956,000 after purchasing an additional 365 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of State Street by 11.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,282 shares of the asset manager’s stock worth $640,000 after purchasing an additional 839 shares during the period. Institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of State Street stock opened at $95.12 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $27.88 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 1.46. State Street Co. has a 1-year low of $66.00 and a 1-year high of $98.45. The firm’s 50-day moving average price is $88.68 and its two-hundred day moving average price is $81.15.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for 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 company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. On average, equities analysts predict that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Evercore ISI boosted their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $91.39.

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.