Amalgamated Bank Lowers Position in State Street Co. (NYSE:STT)

Amalgamated Bank lessened its stake in State Street Co. (NYSE:STT) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,823 shares of the asset manager’s stock after selling 2,417 shares during the quarter. Amalgamated Bank’s holdings in State Street were worth $5,204,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its stake 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 valued at $186,000 after acquiring an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position 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. raised its holdings in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. raised its stake in shares of State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares in the last quarter. Finally, Covestor Ltd lifted its stake in State Street by 13.0% in the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $119,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 1.7 %

State Street stock opened at $95.12 on Friday. The stock has a fifty day moving average of $88.68 and a 200 day moving average of $81.15. The stock has a market cap of $27.88 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. State Street Co. has a one year low of $66.00 and a one year high of $98.45. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last issued its quarterly earnings data 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 firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, sell-side analysts predict that State Street Co. will post 8.38 EPS for the current year.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the 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 sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STT has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Two 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.