BNP Paribas Financial Markets Trims Stock Holdings in State Street Co. (NYSE:STT)

BNP Paribas Financial Markets lessened its stake in shares of State Street Co. (NYSE:STT) by 3.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 518,026 shares of the asset manager’s stock after selling 19,805 shares during the quarter. BNP Paribas Financial Markets’ holdings in State Street were worth $45,830,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of State Street by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 576,333 shares of the asset manager’s stock valued at $44,563,000 after buying an additional 105,710 shares in the last quarter. Tidal Investments LLC increased its stake in State Street by 6.7% during the first quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock worth $552,000 after purchasing an additional 448 shares during the period. Comerica Bank lifted its position in shares of State Street by 51.2% during the first quarter. Comerica Bank now owns 151,865 shares of the asset manager’s stock worth $11,742,000 after purchasing an additional 51,404 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of State Street by 19.1% in the first quarter. Citizens Financial Group Inc. RI now owns 3,990 shares of the asset manager’s stock valued at $309,000 after purchasing an additional 640 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of State Street in the first quarter valued at approximately $300,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the 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 sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock valued at $2,499,860 over the last quarter. Company insiders own 0.31% of the company’s stock.

State Street Trading Down 0.0 %

NYSE STT opened at $98.79 on Friday. The firm’s fifty day moving average price is $92.22 and its 200 day moving average price is $83.54. State Street Co. has a 12 month low of $69.58 and a 12 month high of $99.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $28.96 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last issued 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. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 earnings per share. On average, sell-side analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on STT. Deutsche Bank Aktiengesellschaft raised their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped 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. Wells Fargo & Company lifted their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.11.

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.