Northeast Investment Management Has $516,000 Holdings in State Street Co. (NYSE:STT)

Northeast Investment Management cut its stake in State Street Co. (NYSE:STT) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,834 shares of the asset manager’s stock after selling 750 shares during the period. Northeast Investment Management’s holdings in State Street were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after buying an additional 129 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of State Street by 9.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after buying an additional 148 shares during the period. Rockland Trust Co. boosted its holdings in shares of State Street by 1.8% in the third 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 during the period. Mather Group LLC. boosted its holdings in shares of State Street by 10.9% in the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after buying an additional 158 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of State Street by 13.0% in the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $119,000 after buying an additional 177 shares during the period. 87.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the 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 directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $92.80 on Monday. State Street Co. has a 52 week low of $65.16 and a 52 week high of $94.60. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.19 and a beta of 1.46. The firm’s 50-day simple moving average is $88.14 and its 200 day simple moving average is $80.76. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for 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%. State Street’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share. As a group, sell-side analysts predict that State Street Co. will post 8.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STT shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. 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 report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Bank of America increased their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $91.39.

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.