Sentry Investment Management LLC Buys New Shares in State Street Co. (NYSE:STT)

Sentry Investment Management LLC purchased a new position in State Street Co. (NYSE:STT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,417 shares of the asset manager’s stock, valued at approximately $125,000.

Several other institutional investors have also added to or reduced their stakes in STT. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in State Street by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after acquiring an additional 6,363 shares during the period. M&G Plc bought a new position in shares of State Street in the first quarter worth approximately $7,626,000. Cetera Investment Advisers raised its holdings in State Street by 127.8% during the 1st 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 during the last quarter. Forsta AP Fonden grew its holdings in State Street by 19.7% in the 1st quarter. Forsta AP Fonden now owns 75,900 shares of the asset manager’s stock worth $5,869,000 after acquiring an additional 12,500 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of State Street by 10.5% in the first quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock valued at $312,693,000 after acquiring an additional 385,404 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on STT shares. Citigroup boosted their price target on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Wells Fargo & Company boosted their target price on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays raised their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Bank of America lifted their target price on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.39.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction 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 owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

State Street Price Performance

Shares of NYSE:STT opened at $92.91 on Wednesday. The business has a fifty day moving average price of $88.44 and a 200-day moving average price of $81.04. 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 $27.24 billion, a PE ratio of 14.68, a PEG ratio of 1.18 and a beta of 1.46. State Street Co. has a 1-year low of $66.00 and a 1-year high of $94.60.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 earnings per share. As a group, equities analysts expect that State Street Co. will post 8.38 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.