State Street Co. (NYSE:STT) Shares Purchased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. lifted its position in State Street Co. (NYSE:STT) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,776 shares of the asset manager’s stock after acquiring an additional 2,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in State Street were worth $3,165,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in State Street in the second quarter worth $27,000. Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at about $44,000. Capital Performance Advisors LLP bought a new stake in shares of State Street during the 3rd quarter valued at about $54,000. Family Firm Inc. acquired a new stake in State Street during the second quarter worth about $61,000. Finally, LRI Investments LLC lifted its holdings in State Street by 202.7% in the second quarter. LRI Investments LLC now owns 993 shares of the asset manager’s stock worth $73,000 after acquiring an additional 665 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

STT opened at $100.64 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a market capitalization of $29.50 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.23 and a beta of 1.44. The business has a 50 day moving average price of $94.42 and a two-hundred day moving average price of $85.08. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company earned $1.93 earnings per share. State Street’s revenue was up 21.1% compared to the same quarter last year. Research analysts predict that State Street Co. will post 8.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on STT shares. 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 report on Thursday, September 26th. Morgan Stanley raised shares of State Street from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $102.00 to $139.00 in a report on Monday. Wells Fargo & Company increased their price objective on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI boosted their target price on shares of 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 report on Monday, November 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.32.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock worth $2,499,860 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

State Street Company 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.