AEGON ASSET MANAGEMENT UK Plc Sells 164,097 Shares of State Street Co. (NYSE:STT)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in shares of State Street Co. (NYSE:STT) by 34.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 313,159 shares of the asset manager’s stock after selling 164,097 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.10% of State Street worth $27,711,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STT. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of State Street by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after acquiring an additional 6,363 shares during the period. M&G Plc purchased a new stake in State Street in the first quarter worth $7,626,000. Cetera Investment Advisers lifted its position in shares of State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after buying an additional 24,906 shares during the last quarter. Forsta AP Fonden grew its stake in shares of State Street by 19.7% during the 1st quarter. Forsta AP Fonden now owns 75,900 shares of the asset manager’s stock worth $5,869,000 after acquiring an additional 12,500 shares during the period. Finally, Edgestream Partners L.P. increased its holdings in State Street by 44.7% in the 1st quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager’s stock worth $2,377,000 after acquiring an additional 9,499 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. The Goldman Sachs Group upped their target price 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. Morgan Stanley upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $91.39.

State Street Trading Down 0.4 %

STT opened at $94.78 on Friday. State Street Co. has a one year low of $66.27 and a one year high of $98.45. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day simple moving average of $89.02 and a two-hundred day simple moving average of $81.38. The firm has a market capitalization of $27.78 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.24 and a beta of 1.46.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion during 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 firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. Analysts predict that State Street Co. will post 8.38 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of State Street 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.