Gulf International Bank UK Ltd Has $1.96 Million Holdings in State Street Co. (NYSE:STT)

Gulf International Bank UK Ltd decreased its position in State Street Co. (NYSE:STT) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,127 shares of the asset manager’s stock after selling 1,020 shares during the quarter. Gulf International Bank UK Ltd’s holdings in State Street were worth $1,957,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STT. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of State Street by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock worth $15,376,000 after buying an additional 6,363 shares in the last quarter. M&G Plc acquired a new position in State Street during the 1st quarter worth approximately $7,626,000. Cetera Investment Advisers grew its stake in shares of State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after acquiring an additional 24,906 shares in the last quarter. Forsta AP Fonden raised its holdings in shares of State Street by 19.7% in the first quarter. Forsta AP Fonden now owns 75,900 shares of the asset manager’s stock valued at $5,869,000 after purchasing an additional 12,500 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of State Street by 10.5% in the first quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock worth $312,693,000 after purchasing an additional 385,404 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $96.81 on Thursday. The stock has a 50 day simple moving average of $88.68 and a 200 day simple moving average of $81.15. The stock has a market cap of $28.38 billion, a P/E ratio of 15.29, a PEG ratio of 1.18 and a beta of 1.46. State Street Co. has a 1-year low of $66.00 and a 1-year high of $98.45. 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 earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business posted $1.93 earnings per share. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. Research analysts anticipate that State Street Co. will post 8.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on STT shares. Barclays raised their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America increased their price target on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their price target on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.39.

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.