State Street Co. (NYSE:STT) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC cut its stake in shares of State Street Co. (NYSE:STT) by 14.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,142 shares of the asset manager’s stock after selling 2,096 shares during the period. Avior Wealth Management LLC’s holdings in State Street were worth $1,074,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Capital International Investors raised its position in shares of State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after buying an additional 31,314 shares during the last quarter. LSV Asset Management raised its position in shares of State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd raised its position in shares of State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock valued at $379,209,000 after buying an additional 161,466 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after purchasing an additional 105,222 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of State Street by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after purchasing an additional 259,729 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the business’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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased 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. Morgan Stanley raised their target price on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective 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 raised 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. Finally, Evercore ISI raised their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $92.11.

State Street Trading Up 0.6 %

NYSE:STT opened at $95.30 on Thursday. The company has a market capitalization of $27.94 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52-week low of $68.99 and a 52-week high of $98.45. The stock has a fifty day simple moving average of $90.73 and a 200-day simple moving average of $82.65.

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

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.