Balboa Wealth Partners Makes New $216,000 Investment in State Street Co. (NYSE:STT)

Balboa Wealth Partners acquired a new stake in State Street Co. (NYSE:STT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,438 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently modified their holdings of STT. Capital International Investors lifted its position in State Street by 0.5% during the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after purchasing an additional 31,314 shares during the period. LSV Asset Management lifted its holdings in shares of State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after acquiring an additional 1,238,251 shares during the period. Metropolis Capital Ltd boosted its position in shares of State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares in the last quarter. Cooke & Bieler LP increased its stake in State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after acquiring an additional 105,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in State Street by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after acquiring an additional 259,729 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STT shares. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Barclays lifted their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup lifted their price target on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Evercore ISI increased their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.11.

State Street Trading Up 1.4 %

NYSE STT opened at $95.48 on Friday. The firm has a market capitalization of $27.99 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The business’s 50-day moving average price is $89.76 and its two-hundred day moving average price is $81.98. 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 $68.92 and a 12 month high of $98.45.

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

Insider Activity

In other State Street 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 directly 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 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.

About State Street

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.