State Street Co. (NYSE:STT) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in State Street Co. (NYSE:STT) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,915 shares of the asset manager’s stock after selling 394 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in State Street were worth $2,565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of State Street by 4.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock valued at $72,789,000 after purchasing an additional 40,835 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after purchasing an additional 6,363 shares in the last quarter. M&G Plc purchased a new stake in shares of State Street in the first quarter valued at about $7,626,000. Cetera Investment Advisers lifted its holdings in shares of State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after purchasing an additional 24,906 shares in the last quarter. Finally, FORA Capital LLC lifted its holdings in shares of State Street by 549.0% in the first quarter. FORA Capital LLC now owns 27,425 shares of the asset manager’s stock valued at $2,121,000 after purchasing an additional 23,199 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 price target on shares of State Street in a report on Monday, July 8th. Citigroup upped their price target on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Morgan Stanley boosted their price objective on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $91.39.

State Street Trading Up 1.0 %

Shares of State Street stock traded up $0.90 during trading hours on Wednesday, hitting $93.72. The company’s stock had a trading volume of 238,054 shares, compared to its average volume of 2,221,655. State Street Co. has a 1-year low of $63.57 and a 1-year high of $94.60. The business has a fifty day moving average of $87.52 and a 200 day moving average of $80.36. The company has a market capitalization of $27.99 billion, a PE ratio of 14.67, a P/E/G ratio of 1.16 and a beta of 1.48. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last released its quarterly earnings data 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. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts forecast that State Street Co. will post 8.38 EPS for the current year.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.