State Street Co. (NYSE:STT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in State Street Co. (NYSE:STT) by 31.1% during the third quarter, Holdings Channel reports. The institutional investor owned 466,399 shares of the asset manager’s stock after selling 210,311 shares during the period. Bank of Montreal Can’s holdings in State Street were worth $41,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in State Street in the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the second quarter valued at $27,000. Versant Capital Management Inc raised its stake in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after buying an additional 416 shares in the last quarter. Coastline Trust Co acquired a new stake in State Street in the third quarter valued at $44,000. Finally, Trust Co. of Vermont raised its stake in State Street by 44.4% in the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after buying an additional 200 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

NYSE STT opened at $98.79 on Friday. 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 $69.58 and a 52-week high of $99.50. The business’s 50-day moving average price is $92.22 and its 200 day moving average price is $83.54. The firm has a market cap of $28.96 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.46.

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 analysts’ consensus estimates of $2.12 by $0.14. The firm 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 revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the company posted $1.93 earnings per share. On average, equities research analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company raised their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two 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 data from MarketBeat.com, State Street currently has an average rating of “Hold” and an average price target of $92.11.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’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 sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock worth $2,499,860 over the last 90 days. Company insiders own 0.31% of the company’s stock.

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.