Columbus Macro LLC Sells 253 Shares of State Street Co. (NYSE:STT)

Columbus Macro LLC decreased its holdings in State Street Co. (NYSE:STT) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,033 shares of the asset manager’s stock after selling 253 shares during the period. Columbus Macro LLC’s holdings in State Street were worth $1,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. LRI Investments LLC bought a new stake in shares of State Street in the 1st quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the second quarter worth $27,000. Norwood Financial Corp purchased a new position in State Street during the first quarter worth $35,000. Versant Capital Management Inc increased 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 acquiring an additional 416 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wolfe Research reaffirmed an “underperform” rating and set a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Citigroup raised their price objective on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Barclays upped their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Bank of America boosted their price objective on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report 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.com, the stock presently has an average rating of “Hold” and an average target price of $91.39.

State Street Stock Down 1.2 %

NYSE:STT traded down $1.12 during mid-day trading on Friday, reaching $91.43. The company’s stock had a trading volume of 2,180,871 shares, compared to its average volume of 2,242,692. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $27.54 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The stock has a fifty day moving average of $85.89 and a 200-day moving average of $79.56. State Street Co. has a 1 year low of $62.78 and a 1 year high of $94.60.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 EPS. Equities research analysts forecast that State Street Co. will post 8.15 earnings per share for the current 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.