Kiltearn Partners LLP Trims Stock Position in State Street Co. (NYSE:STT)

Kiltearn Partners LLP trimmed its holdings in State Street Co. (NYSE:STT) by 42.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 162,900 shares of the asset manager’s stock after selling 119,700 shares during the period. State Street makes up about 2.0% of Kiltearn Partners LLP’s holdings, making the stock its 21st largest holding. Kiltearn Partners LLP’s holdings in State Street were worth $14,412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new stake 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 in the 2nd quarter worth approximately $27,000. Versant Capital Management Inc boosted its position 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 purchasing an additional 416 shares during the period. Coastline Trust Co purchased a new stake in State Street in the third quarter valued at approximately $44,000. Finally, Trust Co. of Vermont raised its position in State Street by 44.4% in the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on STT shares. Wells Fargo & Company lifted their price objective 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. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. 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. Deutsche Bank Aktiengesellschaft upped their target price on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. 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 stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $92.11.

State Street Stock Up 0.0 %

Shares of State Street stock opened at $98.80 on Wednesday. The company has a market cap of $28.96 billion, a P/E ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46. The firm has a fifty day moving average of $91.80 and a two-hundred day moving average of $83.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a one year low of $69.56 and a one year high of $99.50.

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. 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%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. On average, analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

State Street 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.