State Street Co. (NYSE:STT) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its stake in shares of State Street Co. (NYSE:STT) by 19.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,784 shares of the asset manager’s stock after selling 3,145 shares during the period. Atria Investments Inc’s holdings in State Street were worth $1,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management lifted its stake in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after purchasing an additional 1,238,251 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after purchasing an additional 634,422 shares during the last quarter. Lazard Asset Management LLC lifted its stake in State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after purchasing an additional 507,270 shares during the last quarter. Metropolis Capital Ltd lifted its stake in State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after purchasing an additional 479,205 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in State Street by 443.1% during the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after purchasing an additional 363,399 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Up 1.4 %

NYSE:STT opened at $95.48 on Friday. The firm has a market cap of $27.99 billion, a P/E ratio of 15.08, a PEG ratio of 1.18 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock’s 50 day simple moving average is $90.00 and its 200-day simple moving average is $82.13. State Street Co. has a 12-month low of $68.92 and a 12-month high of $98.45.

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, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts anticipate that State Street Co. will post 8.42 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STT shares. Barclays boosted their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup boosted their price objective on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Evercore ISI boosted 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. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.11.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate insiders.

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.