Cerity Partners LLC Boosts Stock Holdings in State Street Co. (NYSE:STT)

Cerity Partners LLC increased its position in shares of State Street Co. (NYSE:STT) by 35.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,936 shares of the asset manager’s stock after buying an additional 15,818 shares during the period. Cerity Partners LLC’s holdings in State Street were worth $5,391,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after acquiring an additional 24,906 shares during the period. KBC Group NV increased its stake in shares of State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after purchasing an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the period. Ensign Peak Advisors Inc boosted its position in State Street by 39.3% during the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in State Street by 43.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Down 0.0 %

Shares of STT opened at $98.79 on Friday. State Street Co. has a 52-week low of $69.58 and a 52-week high of $99.50. 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 stock has a fifty day simple moving average of $92.22 and a two-hundred day simple moving average of $83.54. The company has a market capitalization of $28.96 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last released 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 during 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%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business earned $1.93 earnings per share. As a group, equities analysts forecast that State Street Co. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STT. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Morgan Stanley lifted their target price on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $92.11.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 in the last 90 days. Insiders own 0.31% of the company’s stock.

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.