Crossmark Global Holdings Inc. Sells 150 Shares of State Street Co. (NYSE:STT)

Crossmark Global Holdings Inc. lowered its position in shares of State Street Co. (NYSE:STT) by 0.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,323 shares of the asset manager’s stock after selling 150 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in State Street were worth $1,444,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in State Street by 3.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after acquiring an additional 6,363 shares in the last quarter. M&G Plc bought a new position in shares of State Street in the first quarter worth $7,626,000. Cetera Investment Advisers raised its stake in State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after purchasing an additional 24,906 shares in the last quarter. Edgestream Partners L.P. lifted its position in State Street by 44.7% during the first quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager’s stock worth $2,377,000 after purchasing an additional 9,499 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in State Street during the first quarter worth about $908,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock opened at $95.17 on Thursday. The business has a 50 day moving average of $89.39 and a 200-day moving average of $81.80. The company has a market capitalization of $27.90 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.21 and a beta of 1.46. State Street Co. has a 1 year low of $68.00 and a 1 year high of $98.45. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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 9.87% and a return on equity of 12.02%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 EPS. On average, equities research analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

Insider Activity at State Street

In other news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on STT. Deutsche Bank Aktiengesellschaft boosted their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday. Morgan Stanley upped their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup upped their price objective on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.96.

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.