Avior Wealth Management LLC Has $1.07 Million Holdings in State Street Co. (NYSE:STT)

Avior Wealth Management LLC trimmed its stake in State Street Co. (NYSE:STT) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,142 shares of the asset manager’s stock after selling 2,096 shares during the period. Avior Wealth Management LLC’s holdings in State Street were worth $1,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of STT. Lake Street Advisors Group LLC purchased a new position in State Street in the 1st quarter valued at approximately $262,000. Shell Asset Management Co. raised its position in State Street by 21.6% in the 1st quarter. Shell Asset Management Co. now owns 19,088 shares of the asset manager’s stock worth $1,476,000 after purchasing an additional 3,387 shares during the period. Advisors Asset Management Inc. raised its position in State Street by 35.7% in the 1st quarter. Advisors Asset Management Inc. now owns 16,253 shares of the asset manager’s stock worth $1,257,000 after purchasing an additional 4,276 shares during the period. Capital International Investors raised its position in State Street by 0.5% in the 1st 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. Finally, Capital International Sarl raised its position in State Street by 3.3% in the 1st quarter. Capital International Sarl now owns 32,673 shares of the asset manager’s stock worth $2,526,000 after purchasing an additional 1,048 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $95.30 on Thursday. State Street Co. has a 52 week low of $68.99 and a 52 week high of $98.45. The stock has a market capitalization of $27.94 billion, a P/E ratio of 15.06, a PEG ratio of 1.18 and a beta of 1.46. The firm has a fifty day simple moving average of $90.73 and a two-hundred day simple moving average of $82.65. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

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

Insider Buying and Selling

In other news, EVP John Plansky sold 13,859 shares of the company’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 directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STT has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley upped their target price on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.11.

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.