Raymond James Trust N.A. Purchases New Shares in State Street Co. (NYSE:STT)

Raymond James Trust N.A. acquired a new stake in shares of State Street Co. (NYSE:STT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,550 shares of the asset manager’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after buying an additional 148 shares during the last quarter. Rockland Trust Co. grew its holdings in shares of State Street by 1.8% in the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. increased its position in shares of State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after acquiring an additional 158 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after acquiring an additional 158 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Trading Down 0.0 %

NYSE:STT opened at $98.79 on Friday. State Street Co. has a 1 year low of $69.58 and a 1 year high of $99.50. The stock’s fifty day moving average price is $92.22 and its two-hundred day moving average price is $83.54. 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 company 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.

State Street (NYSE:STT) last issued 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 return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the company earned $1.93 EPS. The firm’s revenue was up 21.1% compared to the same quarter last year. As a group, analysts expect that State Street Co. will post 8.42 EPS for the current year.

Insider Activity at State Street

In other news, EVP John Plansky sold 13,859 shares of State Street 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’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 completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,460 shares of company stock valued at $2,499,860. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Evercore ISI lifted their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Barclays lifted their price target on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $92.11.

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.