State Street Co. (NYSE:STT) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lessened its stake in shares of State Street Co. (NYSE:STT) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,651 shares of the asset manager’s stock after selling 131 shares during the period. KCM Investment Advisors LLC’s holdings in State Street were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of State Street during the first quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street during the 2nd quarter valued at about $27,000. Versant Capital Management Inc raised its holdings in State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares during the last quarter. Trust Co. of Vermont raised its holdings in State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of State Street during the 3rd quarter worth approximately $54,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction 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 sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STT shares. Citigroup lifted their price objective on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lifted their target price on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Stock Performance

Shares of State Street stock opened at $95.48 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. State Street Co. has a 12 month low of $68.92 and a 12 month high of $98.45. The stock has a market capitalization of $27.99 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The business has a 50-day moving average of $90.00 and a 200 day moving average of $82.20.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) 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 analyst estimates of $3.19 billion. During the same period last year, the business posted $1.93 earnings per share. State Street’s revenue was up 21.1% compared to the same quarter last year. As a group, sell-side analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

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.