Coho Partners Ltd. Has $98.37 Million Position in State Street Co. (NYSE:STT)

Coho Partners Ltd. reduced its holdings in State Street Co. (NYSE:STT) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,111,883 shares of the asset manager’s stock after selling 128,690 shares during the period. State Street makes up about 3.6% of Coho Partners Ltd.’s investment portfolio, making the stock its 13th biggest position. Coho Partners Ltd.’s holdings in State Street were worth $98,368,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Brookstone Capital Management raised its holdings in State Street by 17.9% in the first quarter. Brookstone Capital Management now owns 7,439 shares of the asset manager’s stock worth $575,000 after purchasing an additional 1,127 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of State Street by 3.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 20,739 shares of the asset manager’s stock worth $1,604,000 after acquiring an additional 786 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of State Street by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,232 shares of the asset manager’s stock worth $2,647,000 after acquiring an additional 1,707 shares in the last quarter. Norwood Financial Corp bought a new position in State Street in the first quarter valued at $35,000. Finally, Trilogy Capital Inc. bought a new position in State Street in the first quarter valued at $2,752,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Up 1.8 %

STT opened at $91.45 on Thursday. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $94.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54. The firm has a market capitalization of $27.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.15 and a beta of 1.48. The company’s 50 day moving average price is $86.62 and its two-hundred day moving average price is $79.86.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during 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%. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. As a group, research analysts predict that State Street Co. will post 8.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on STT shares. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Wells Fargo & Company raised their target price on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays increased their price target 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. Keefe, Bruyette & Woods cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $91.39.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the company’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 completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.