Brooklyn Investment Group Purchases New Stake in State Street Co. (NYSE:STT)

Brooklyn Investment Group purchased a new stake in State Street Co. (NYSE:STT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 897 shares of the asset manager’s stock, valued at approximately $79,000.

Several other hedge funds have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. lifted its position in shares of State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 148 shares during the last quarter. Rockland Trust Co. lifted its position in State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. grew its stake in shares of State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 158 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after acquiring an additional 158 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STT. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley raised their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target 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, Deutsche Bank Aktiengesellschaft boosted their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $92.11.

Insiders Place Their Bets

In related news, 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 transaction 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 represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by insiders.

State Street Trading Down 0.0 %

NYSE:STT opened at $98.79 on Friday. The company has a 50 day simple moving average of $92.22 and a two-hundred day simple moving average of $83.54. The company has a market cap 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 Co. has a 12 month low of $69.58 and a 12 month high of $99.50. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for 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 period in the previous year, the business earned $1.93 earnings per share. Research analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

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.