State Street Co. (NYSE:STT) Shares Purchased by Eastern Bank

Eastern Bank boosted its position in State Street Co. (NYSE:STT) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,299 shares of the asset manager’s stock after buying an additional 593 shares during the quarter. Eastern Bank’s holdings in State Street were worth $3,742,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in STT. Brookstone Capital Management lifted its holdings in State Street by 17.9% in the 1st quarter. Brookstone Capital Management now owns 7,439 shares of the asset manager’s stock worth $575,000 after buying an additional 1,127 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in State Street by 3.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 20,739 shares of the asset manager’s stock worth $1,604,000 after buying an additional 786 shares in the last quarter. Cardinal Capital Management lifted its holdings in State Street by 8.3% in the 1st quarter. Cardinal Capital Management now owns 52,953 shares of the asset manager’s stock worth $4,130,000 after buying an additional 4,036 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in State Street by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,232 shares of the asset manager’s stock worth $2,647,000 after buying an additional 1,707 shares in the last quarter. Finally, Norwood Financial Corp acquired a new stake in shares of State Street in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other 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 value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STT. Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley boosted their price objective on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.39.

State Street Price Performance

NYSE STT opened at $89.86 on Wednesday. State Street Co. has a 52 week low of $62.78 and a 52 week high of $94.60. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91. The stock has a market cap of $27.07 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a 50-day moving average price of $86.37 and a two-hundred day moving average price of $79.78.

State Street (NYSE:STT) last posted its quarterly earnings data 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 business 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 business’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.93 earnings per share. Analysts forecast that State Street Co. will post 8.36 EPS 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.