D.A. Davidson & CO. Lowers Stake in State Street Co. (NYSE:STT)

D.A. Davidson & CO. decreased its position in State Street Co. (NYSE:STT) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,064 shares of the asset manager’s stock after selling 2,708 shares during the quarter. D.A. Davidson & CO.’s holdings in State Street were worth $10,799,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in STT. LRI Investments LLC purchased a new stake in shares of State Street in the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in State Street in the 2nd quarter valued at about $27,000. Versant Capital Management Inc increased its stake 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 purchasing an additional 416 shares during the period. Coastline Trust Co acquired a new stake in shares of State Street during the third quarter worth about $44,000. Finally, Trust Co. of Vermont grew its holdings in shares of State Street by 44.4% in the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STT shares. The Goldman Sachs Group increased their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company lifted 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. Barclays upped their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI lifted 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, Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.11.

State Street Stock Performance

Shares of STT stock opened at $98.80 on Wednesday. State Street Co. has a 52-week low of $69.56 and a 52-week high of $99.50. The stock’s 50-day moving average price is $91.80 and its 200 day moving average price is $83.33. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $28.96 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities research analysts forecast that State Street Co. will post 8.42 EPS for the current year.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,460 shares of company stock worth $2,499,860. Company insiders own 0.31% of the company’s stock.

State Street Profile

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.