Quest Partners LLC Sells 19,560 Shares of State Street Co. (NYSE:STT)

Quest Partners LLC lowered its holdings in shares of State Street Co. (NYSE:STT) by 48.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,716 shares of the asset manager’s stock after selling 19,560 shares during the quarter. Quest Partners LLC’s holdings in State Street were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of STT. Benjamin F. Edwards & Company Inc. raised its holdings in State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after buying an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after acquiring an additional 148 shares during the last quarter. Rockland Trust Co. raised its stake in shares of State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. raised its stake in shares of State Street by 10.9% in the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after acquiring an additional 158 shares in the last quarter. Finally, Empirical Finance LLC lifted its holdings in State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Up 0.7 %

Shares of STT stock opened at $96.12 on Tuesday. State Street Co. has a one year low of $68.99 and a one year high of $98.45. 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 stock has a fifty day moving average price of $90.25 and a 200 day moving average price of $82.42. The stock has a market cap of $28.18 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.93 EPS. Analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on STT shares. Barclays increased their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Citigroup lifted their price objective on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley increased their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, State Street currently has an average rating of “Hold” and an average target price of $92.11.

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.