Wealth Enhancement Advisory Services LLC Has $2.55 Million Stock Position in State Street Co. (NYSE:STT)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of State Street Co. (NYSE:STT) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,786 shares of the asset manager’s stock after selling 3,329 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in State Street were worth $2,547,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. LRI Investments LLC bought a new stake in State Street in the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of State Street in the second quarter valued at about $27,000. Versant Capital Management Inc grew its position in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares in the last quarter. Trust Co. of Vermont increased its stake in 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 during the period. Finally, Family Firm Inc. acquired a new position in State Street in the 2nd quarter valued at approximately $61,000. 87.44% of the stock is owned by institutional investors.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following 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 position. The transaction 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 Stock Performance

Shares of NYSE STT opened at $92.80 on Friday. State Street Co. has a 1-year low of $65.16 and a 1-year high of $94.60. The company has a 50-day moving average of $88.14 and a two-hundred day moving average of $80.71. The company has a market cap of $27.71 billion, a PE ratio of 14.66, a P/E/G ratio of 1.19 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last posted its quarterly earnings data 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 firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. As a group, equities analysts expect that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STT shares. Royal Bank of Canada boosted their price objective on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Evercore ISI boosted 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. Wells Fargo & Company raised their price objective on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America upped their target price on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley raised their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.39.

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.