Plimoth Trust Co. LLC Grows Position in State Street Co. (NYSE:STT)

Plimoth Trust Co. LLC raised its position in State Street Co. (NYSE:STT) by 32.3% during the third quarter, Holdings Channel.com reports. The fund owned 3,895 shares of the asset manager’s stock after purchasing an additional 950 shares during the quarter. Plimoth Trust Co. LLC’s holdings in State Street were worth $345,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC purchased a new position in State Street during the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of State Street in the 2nd quarter worth approximately $27,000. Norwood Financial Corp bought a new stake in shares of State Street in the 1st quarter worth approximately $35,000. Versant Capital Management Inc increased its stake in shares of 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 buying an additional 416 shares during the period. Finally, Trust Co. of Vermont raised its holdings in shares of State Street by 44.4% during 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 in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Stock Down 1.4 %

Shares of NYSE:STT traded down $1.24 on Monday, hitting $90.19. 1,637,927 shares of the company traded hands, compared to its average volume of 2,239,712. The stock has a 50 day simple moving average of $85.89 and a 200-day simple moving average of $79.58. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The company has a market cap of $26.93 billion, a PE ratio of 14.44, a PEG ratio of 1.17 and a beta of 1.48. State Street Co. has a 52 week low of $62.78 and a 52 week high of $94.60.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business earned $1.93 EPS. As a group, research analysts expect that State Street Co. will post 8.36 earnings per share for the current year.

Analysts Set New Price Targets

STT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods decreased their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Wolfe Research reaffirmed an “underperform” rating and set a $73.00 price objective on shares of State Street in a research report on Monday, July 8th. Wells Fargo & Company increased their target price on State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Barclays raised their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $91.39.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

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.