Providence Capital Advisors LLC Has $6.41 Million Holdings in State Street Co. (NYSE:STT)

Providence Capital Advisors LLC increased its stake in State Street Co. (NYSE:STT) by 101,871.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,400 shares of the asset manager’s stock after purchasing an additional 72,329 shares during the period. State Street makes up 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 26th largest position. Providence Capital Advisors LLC’s holdings in State Street were worth $6,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of State Street during the 1st quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street during the 2nd quarter worth about $27,000. Versant Capital Management Inc boosted its stake in shares of State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares during the last quarter. Coastline Trust Co acquired a new position in shares of State Street during the 3rd quarter worth about $44,000. Finally, Trust Co. of Vermont boosted its stake in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after buying an additional 200 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of recent research reports. Morgan Stanley increased their price objective 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. Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.11.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction 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. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,460 shares of company stock worth $2,499,860. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Down 0.0 %

State Street stock opened at $98.79 on Thursday. The stock has a market cap of $28.96 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.46. 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 Co. has a twelve month low of $69.58 and a twelve month high of $99.50. The company’s 50-day moving average price is $92.03 and its two-hundred day moving average price is $83.43.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the firm earned $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, analysts expect that State Street Co. will post 8.42 EPS for the current year.

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.