1,417 Shares in State Street Co. (NYSE:STT) Bought by Sentry Investment Management LLC

Sentry Investment Management LLC purchased a new position in State Street Co. (NYSE:STT) in the third quarter, HoldingsChannel.com reports. The firm purchased 1,417 shares of the asset manager’s stock, valued at approximately $125,000.

A number of other hedge funds also recently made changes to their positions in STT. LSV Asset Management raised its holdings in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in State Street by 541.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after purchasing an additional 634,422 shares during the period. SG Americas Securities LLC lifted its holdings in shares of State Street by 430.5% in the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock worth $56,841,000 after buying an additional 596,567 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after acquiring an additional 507,270 shares during the last quarter. Finally, Metropolis Capital Ltd grew its stake in State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after acquiring an additional 479,205 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STT. Royal Bank of Canada raised their price objective on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their target price on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Bank of America raised their price target on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, State Street currently has a consensus rating of “Hold” and an average price target of $91.39.

State Street Stock Performance

Shares of State Street stock opened at $92.91 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52 week low of $66.00 and a 52 week high of $94.60. The firm has a market capitalization of $27.24 billion, a P/E ratio of 14.68, a PEG ratio of 1.18 and a beta of 1.46. The company has a 50 day moving average price of $88.44 and a 200 day moving average price of $81.04.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 earnings per share. Sell-side analysts expect that State Street Co. will post 8.38 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

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.