Douglass Winthrop Advisors LLC Takes Position in State Street Co. (NYSE:STT)

Douglass Winthrop Advisors LLC bought a new position in State Street Co. (NYSE:STT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,303 shares of the asset manager’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. LRI Investments LLC acquired a new stake in State Street during the first quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street during the 2nd quarter worth about $27,000. Versant Capital Management Inc increased its position in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. Coastline Trust Co purchased a new position in State Street in the third quarter valued at approximately $44,000. Finally, Trust Co. of Vermont lifted its position in State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $98.80 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $91.56 and its 200 day moving average price is $83.17. State Street Co. has a 52-week low of $69.56 and a 52-week high of $99.50. The firm has a market cap of $28.96 billion, a P/E ratio of 15.61, a PEG ratio of 1.20 and a beta of 1.46.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The business’s revenue was up 21.1% compared to the same quarter last year. As a group, sell-side analysts predict that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

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 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 $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

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.