D.A. Davidson & CO. Reduces Stock Holdings in State Street Co. (NYSE:STT)

D.A. Davidson & CO. lessened its holdings in shares of State Street Co. (NYSE:STT) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,064 shares of the asset manager’s stock after selling 2,708 shares during the period. D.A. Davidson & CO.’s holdings in State Street were worth $10,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of State Street during the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street during the second quarter worth about $27,000. Versant Capital Management Inc raised its position in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Coastline Trust Co acquired a new position in State Street in the third quarter valued at approximately $44,000. Finally, Trust Co. of Vermont grew its stake in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after purchasing an additional 200 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

State Street stock opened at $98.80 on Wednesday. The company has a fifty day simple moving average of $91.80 and a 200-day simple moving average of $83.33. 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 firm has a market capitalization of $28.96 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46. State Street Co. has a 52-week low of $69.56 and a 52-week high of $99.50.

State Street (NYSE:STT) last released its 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. 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%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. On average, equities analysts anticipate that State Street Co. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STT has been the subject of several analyst reports. Morgan Stanley boosted 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 note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays upped their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.11.

Insiders Place Their Bets

In related news, EVP John Plansky sold 13,859 shares of the 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,460 shares of company stock valued at $2,499,860. 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.