State Street Co. (NYSE:STT) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its holdings in shares of State Street Co. (NYSE:STT) by 3.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,201 shares of the asset manager’s stock after purchasing an additional 549 shares during the period. Moors & Cabot Inc.’s holdings in State Street were worth $1,610,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of STT. Cetera Investment Advisers boosted its stake in State Street by 127.8% during the first 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 in the last quarter. Bayesian Capital Management LP bought a new position in State Street during the first quarter valued at about $908,000. Asset Management One Co. Ltd. boosted its stake in State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares in the last quarter. KBC Group NV boosted its stake in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after buying an additional 12,707 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake 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 valued at $10,794,000 after buying an additional 41,180 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred 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 directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Morgan Stanley increased their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Barclays increased their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.11.

State Street Stock Up 0.6 %

STT opened at $95.30 on Thursday. State Street Co. has a fifty-two week low of $68.99 and a fifty-two week high of $98.45. The business has a 50-day moving average of $90.73 and a 200-day moving average of $82.65. 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 company has a market capitalization of $27.94 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the business earned $1.93 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

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.