State Street Co. (NYSE:STT) Shares Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. boosted its position in State Street Co. (NYSE:STT) by 18.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 943,726 shares of the asset manager’s stock after buying an additional 147,081 shares during the quarter. State Street accounts for approximately 1.8% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Ferguson Wellman Capital Management Inc. owned about 0.31% of State Street worth $83,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blue Trust Inc. grew its position in shares of State Street by 55.6% during the third quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager’s stock worth $394,000 after buying an additional 1,591 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of State Street by 32.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 9,129 shares of the asset manager’s stock worth $808,000 after purchasing an additional 2,241 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of State Street by 2.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,417 shares of the asset manager’s stock valued at $2,779,000 after purchasing an additional 713 shares in the last quarter. Cardinal Capital Management lifted its position in shares of State Street by 1.1% during the third quarter. Cardinal Capital Management now owns 53,728 shares of the asset manager’s stock worth $4,753,000 after purchasing an additional 571 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of State Street by 20.4% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 19,861 shares of the asset manager’s stock worth $1,757,000 after purchasing an additional 3,368 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lifted their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods lowered their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Wolfe Research reissued an “underperform” rating and set a $73.00 target price on shares of State Street in a report on Monday, July 8th. Barclays lifted their price target on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday. 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 company’s stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $91.39.

State Street Stock Performance

State Street stock traded down $1.12 during mid-day trading on Friday, hitting $91.43. 2,180,871 shares of the company’s stock traded hands, compared to its average volume of 2,242,692. State Street Co. has a one year low of $62.78 and a one year high of $94.60. The company has a market cap of $27.54 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The firm has a 50 day moving average price of $85.89 and a 200 day moving average price of $79.54. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last posted 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 business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. On average, equities analysts forecast that State Street Co. will post 8.15 EPS 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.