2,800 Shares in State Street Co. (NYSE:STT) Purchased by Adero Partners LLC

Adero Partners LLC bought a new position in State Street Co. (NYSE:STT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,800 shares of the asset manager’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of State Street in the 1st quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street in the 2nd quarter worth about $27,000. Coastline Trust Co acquired a new stake in shares of State Street in the 3rd quarter worth about $44,000. Versant Capital Management Inc increased its stake 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 buying an additional 416 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of State Street during the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions 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 stock was 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 directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $95.48 on Monday. State Street Co. has a 1 year low of $68.92 and a 1 year high of $98.45. The business has a fifty day simple moving average of $90.00 and a two-hundred day simple moving average of $82.26. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $27.99 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 1.46.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping 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 company earned $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STT. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Evercore ISI boosted their price target 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. Wells Fargo & Company raised their price objective on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Morgan Stanley boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.11.

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.