Glenmede Trust Co. NA Cuts Position in State Street Co. (NYSE:STT)

Glenmede Trust Co. NA reduced its stake in shares of State Street Co. (NYSE:STT) by 6.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,016 shares of the asset manager’s stock after selling 3,513 shares during the period. Glenmede Trust Co. NA’s holdings in State Street were worth $4,867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in State Street by 5.4% during the second 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 in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after acquiring an additional 148 shares in the last quarter. Rockland Trust Co. increased its holdings in State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. raised its position in State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of State Street by 1.4% in the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after purchasing an additional 158 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STT. Wells Fargo & Company lifted their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted 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. Morgan Stanley increased their price objective on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and a consensus price target of $92.11.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was 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 of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of State Street stock opened at $98.51 on Friday. The business’s fifty day moving average price is $92.42 and its 200 day moving average price is $83.75. State Street Co. has a twelve month low of $70.20 and a twelve 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. The stock has a market capitalization of $28.88 billion, a P/E ratio of 15.56, a PEG ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last posted its 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 during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. As a group, research analysts anticipate 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.