State Street Co. (NYSE:STT) Stock Position Raised by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lifted its stake in shares of State Street Co. (NYSE:STT) by 29.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,028,149 shares of the asset manager’s stock after purchasing an additional 231,504 shares during the period. State Street makes up about 1.8% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 15th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in State Street were worth $90,960,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its position in State Street by 11.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,282 shares of the asset manager’s stock worth $640,000 after purchasing an additional 839 shares in the last quarter. Empowered Funds LLC lifted its stake in State Street by 14.9% in the 1st quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager’s stock worth $296,000 after acquiring an additional 498 shares in the last quarter. Entropy Technologies LP acquired a new stake in State Street during the 1st quarter worth about $339,000. State Board of Administration of Florida Retirement System grew its stake in State Street by 6.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 397,186 shares of the asset manager’s stock valued at $30,063,000 after acquiring an additional 24,210 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of State Street by 15.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 366,434 shares of the asset manager’s stock valued at $28,333,000 after purchasing an additional 50,034 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of State Street stock traded up $0.03 during midday trading on Thursday, hitting $95.20. The company had a trading volume of 26,681 shares, compared to its average volume of 2,210,771. The stock has a market cap of $27.91 billion, a PE ratio of 15.03, a P/E/G ratio of 1.21 and a beta of 1.46. State Street Co. has a 1-year low of $68.92 and a 1-year high of $98.45. The business’s 50 day simple moving average is $89.58 and its two-hundred day simple moving average is $81.89. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for 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%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS. As a group, equities analysts predict that State Street Co. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on STT shares. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Bank of America raised their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.96.

About State Street

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.