Citizens Financial Group Inc. RI Boosts Stock Holdings in State Street Co. (NYSE:STT)

Citizens Financial Group Inc. RI lifted its stake in State Street Co. (NYSE:STT) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,790 shares of the asset manager’s stock after buying an additional 184 shares during the period. Citizens Financial Group Inc. RI’s holdings in State Street were worth $512,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in State Street in the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street in the second quarter worth approximately $27,000. Versant Capital Management Inc increased its stake in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares during the period. Coastline Trust Co bought a new stake in State Street during the 3rd quarter valued at $44,000. Finally, Trust Co. of Vermont boosted its position in State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $97.50 on Friday. The business has a fifty day simple moving average of $91.29 and a two-hundred day simple moving average of $82.96. The firm has a market capitalization of $28.58 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 12 month low of $69.56 and a 12 month high of $98.45.

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

Analysts Set New Price Targets

A number of research firms have issued reports on STT. Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI increased their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective on 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 upped their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, State Street has an average rating of “Hold” and an average target price of $92.11.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.