Balboa Wealth Partners Takes $216,000 Position in State Street Co. (NYSE:STT)

Balboa Wealth Partners purchased a new position in shares of State Street Co. (NYSE:STTFree Report) during the third quarter, HoldingsChannel reports. The firm purchased 2,438 shares of the asset manager’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of State Street during the first quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street during the 2nd quarter valued at $27,000. Versant Capital Management Inc raised its holdings in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of State Street in the third quarter valued at $54,000. Finally, Trust Co. of Vermont grew its holdings in shares of 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 during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the topic of a number of analyst reports. Citigroup upped their target price on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lifted their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $92.11.

Read Our Latest Analysis on State Street

State Street Stock Performance

NYSE STT opened at $95.48 on Friday. The company has a market capitalization of $27.99 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 52-week low of $68.92 and a 52-week high of $98.45. The company has a 50-day simple moving average of $89.76 and a 200 day simple moving average of $81.98.

State Street (NYSE:STTGet Free Report) 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 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 firm posted $1.93 EPS. State Street’s revenue was up 21.1% on a year-over-year basis. On average, research analysts predict that State Street Co. will post 8.42 EPS for the current year.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

State Street Profile

(Free Report)

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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