Point72 Asia Singapore Pte. Ltd. Takes $1.07 Million Position in State Street Co. (NYSE:STT)

Point72 Asia Singapore Pte. Ltd. bought a new stake 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 12,045 shares of the asset manager’s stock, valued at approximately $1,066,000.

A number of other institutional investors have also modified their holdings of STT. Benjamin F. Edwards & Company Inc. lifted its stake in State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after acquiring an additional 148 shares in the last quarter. Rockland Trust Co. lifted its position in shares of State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. lifted its position in shares of State Street by 10.9% in the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after acquiring an additional 158 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STT. Barclays upped their price target on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley upped their price target on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.11.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock valued at $2,499,860 in the last ninety days. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $98.51 on Monday. State Street Co. has a 1 year low of $70.20 and a 1 year high of $99.50. The firm’s fifty day simple moving average is $92.42 and its 200 day simple moving average is $83.79. 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 firm has a market capitalization of $28.88 billion, a PE ratio of 15.56, a PEG ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last posted 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 net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the business posted $1.93 EPS. State Street’s revenue was up 21.1% compared to the same quarter last year. On average, sell-side analysts anticipate that State Street Co. will post 8.42 EPS for the current 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.