Heritage Investors Management Corp Has $775,000 Stock Holdings in State Street Co. (NYSE:STT)

Heritage Investors Management Corp cut its position in shares of State Street Co. (NYSE:STTFree Report) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,765 shares of the asset manager’s stock after selling 1,400 shares during the quarter. Heritage Investors Management Corp’s holdings in State Street were worth $775,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after buying an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in State Street by 9.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 148 shares in the last quarter. Rockland Trust Co. boosted its holdings in State Street by 1.8% during the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. boosted its holdings in State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 158 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in State Street by 13.0% during the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 177 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Price Performance

Shares of STT stock opened at $92.91 on Wednesday. State Street Co. has a 12-month low of $66.00 and a 12-month high of $94.60. The firm has a market capitalization of $27.24 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a fifty day moving average of $88.44 and a 200-day moving average of $81.04.

State Street (NYSE:STTGet Free Report) last announced its quarterly earnings results 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. The company 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%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. On average, equities research analysts forecast that State Street Co. will post 8.38 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on Friday, October 18th. The shares were 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 of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their target price on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Citigroup lifted their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus price target of $91.39.

Check Out Our Latest Report on STT

State Street Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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