State Street Co. (NYSE:STT) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC reduced its position in State Street Co. (NYSE:STT) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,051 shares of the asset manager’s stock after selling 724 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in State Street were worth $624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV boosted its stake in shares of State Street by 20.5% in the 3rd 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 during the period. Asset Management One Co. Ltd. boosted its stake in shares of State Street by 17.3% in the 3rd 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 during the period. Ensign Peak Advisors Inc boosted its stake in shares of State Street by 39.3% in the 2nd 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after buying an additional 20,968 shares during the period. Finally, LSV Asset Management boosted its stake in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Activity

In other 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 transaction, 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 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly 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. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Morgan Stanley upgraded State Street from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $102.00 to $139.00 in a research note on Monday. The Goldman Sachs Group boosted their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company boosted their target price on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $97.32.

State Street Price Performance

Shares of NYSE STT opened at $100.03 on Wednesday. The stock has a market cap of $29.32 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.22 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average of $93.59 and a two-hundred day moving average of $84.69. State Street Co. has a twelve month low of $70.20 and a twelve month high of $100.35.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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 return on equity of 12.02% and a net margin of 9.87%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. On average, research analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

State Street 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.