Citizens Financial Group Inc. RI Increases Stock Position in State Street Co. (NYSE:STT)

Citizens Financial Group Inc. RI raised its holdings in shares of State Street Co. (NYSE:STT) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,790 shares of the asset manager’s stock after acquiring an additional 184 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in State Street were worth $512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC bought a new position in shares of State Street during the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the 2nd quarter worth about $27,000. Versant Capital Management Inc lifted its stake in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares during the period. Coastline Trust Co bought a new position in State Street during the 3rd quarter valued at about $44,000. Finally, Trust Co. of Vermont boosted its holdings in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

State Street Stock Performance

STT opened at $97.50 on Friday. The company has a 50 day simple moving average of $91.29 and a two-hundred day simple moving average of $82.96. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $28.58 billion, a P/E ratio of 15.40, a PEG ratio of 1.19 and a beta of 1.46. State Street Co. has a 1-year low of $69.56 and a 1-year high of $98.45.

State Street (NYSE:STT) last issued its earnings results 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 company 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 9.87% and a return on equity of 12.02%. State Street’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. Equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STT. Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.11.

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.