BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Stock Position in State Street Co. (NYSE:STT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its position in State Street Co. (NYSE:STT) by 20.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,242 shares of the asset manager’s stock after selling 38,164 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in State Street were worth $13,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. LRI Investments LLC purchased a new position in State Street during the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street in the second quarter worth $27,000. Coastline Trust Co purchased a new position in shares of State Street during the third quarter worth $44,000. Versant Capital Management Inc lifted its position in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in State Street in the third quarter valued at $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 1.2 %

STT stock opened at $97.50 on Friday. State Street Co. has a 52 week low of $69.56 and a 52 week high of $98.45. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a 50-day simple moving average of $91.29 and a 200-day simple moving average of $82.96. The stock has a market capitalization of $28.58 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.19 and a beta of 1.46.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion during 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%. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 EPS. Equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STT has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.11.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’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 transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

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.