Dearborn Partners LLC Invests $221,000 in State Street Co. (NYSE:STT)

Dearborn Partners LLC acquired a new stake in shares of State Street Co. (NYSE:STT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the asset manager’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in State Street during the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street during the second quarter valued at $27,000. Versant Capital Management Inc increased its position in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares during the last quarter. Trust Co. of Vermont lifted its holdings 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 acquiring an additional 200 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in State Street in the third quarter worth about $54,000. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several research reports. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI lifted 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. Morgan Stanley upped their price objective on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Stock Up 1.4 %

Shares of STT opened at $95.48 on Friday. The business’s 50 day moving average is $89.76 and its 200 day moving average is $81.98. 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 Co. has a 12-month low of $68.92 and a 12-month high of $98.45. The company has a market capitalization of $27.99 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

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, beating 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 firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business posted $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Research analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction 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 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.