BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,903 Shares of State Street Co. (NYSE:STT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of State Street Co. (NYSE:STT) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,934 shares of the asset manager’s stock after selling 7,903 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in State Street were worth $4,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC increased its position in State Street by 6.7% in the first quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock worth $552,000 after buying an additional 448 shares in the last quarter. Cetera Investment Advisers increased its holdings in State Street by 127.8% in the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after acquiring an additional 24,906 shares in the last quarter. Cetera Advisors LLC raised its stake in State Street by 546.5% during the 1st quarter. Cetera Advisors LLC now owns 21,018 shares of the asset manager’s stock worth $1,625,000 after acquiring an additional 17,767 shares during the period. GAMMA Investing LLC lifted its holdings in State Street by 79.1% during the second quarter. GAMMA Investing LLC now owns 1,832 shares of the asset manager’s stock valued at $136,000 after purchasing an additional 809 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of State Street by 9.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Trading Down 0.5 %

Shares of NYSE STT opened at $98.03 on Tuesday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $99.50. 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 business’s 50 day moving average is $92.42 and its two-hundred day moving average is $83.79. The stock has a market capitalization of $28.74 billion, a P/E ratio of 15.49, a PEG ratio of 1.22 and a beta of 1.44.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. As a group, research analysts expect that State Street Co. will post 8.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on STT shares. Wells Fargo & Company lifted their target price on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Monday. Barclays upped their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and an average price target of $92.11.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by 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.