Brooklyn Investment Group Makes New $79,000 Investment in State Street Co. (NYSE:STT)

Brooklyn Investment Group bought a new position in State Street Co. (NYSE:STT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 897 shares of the asset manager’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of State Street during the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the second quarter valued at about $27,000. Versant Capital Management Inc boosted its holdings in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares during the period. Coastline Trust Co bought a new stake in shares of State Street in the 3rd quarter worth approximately $44,000. 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 buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley boosted their target price 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. Evercore ISI increased 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. Finally, 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 report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $92.11.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the business’s 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 completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,460 shares of company stock valued at $2,499,860. Company insiders own 0.31% of the company’s stock.

State Street Stock Performance

NYSE:STT opened at $98.79 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $28.96 billion, a PE ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.46. The company has a 50 day simple moving average of $92.22 and a two-hundred day simple moving average of $83.54. State Street Co. has a fifty-two week low of $69.58 and a fifty-two week high of $99.50.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 EPS. 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.