Valley Wealth Managers Inc. Sells 1,103 Shares of State Street Co. (NYSE:STT)

Valley Wealth Managers Inc. lowered its holdings in State Street Co. (NYSE:STT) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,694 shares of the asset manager’s stock after selling 1,103 shares during the quarter. Valley Wealth Managers Inc.’s holdings in State Street were worth $4,485,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STT. LRI Investments LLC bought a new position in shares of State Street during the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street in the second quarter valued at about $27,000. Versant Capital Management Inc raised its position in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after buying an additional 416 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of 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. Finally, Capital Performance Advisors LLP purchased a new stake in shares of State Street in the third quarter valued at about $54,000. Institutional investors own 87.44% of the company’s stock.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted 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. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted 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. Finally, Citigroup boosted their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Two investment 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’s stock. According to MarketBeat.com, State Street has an average rating of “Hold” and a consensus target price of $92.11.

State Street Stock Up 0.2 %

NYSE STT traded up $0.21 during trading hours on Friday, hitting $94.39. 167,874 shares of the company traded hands, compared to its average volume of 2,207,031. State Street Co. has a twelve month low of $68.92 and a twelve month high of $98.45. The stock has a market capitalization of $27.67 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 1.18 and a beta of 1.46. The business’s 50-day moving average is $89.76 and its 200-day moving average is $81.98. 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 (NYSE:STT) last issued 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. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the company posted $1.93 EPS. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Sell-side analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.

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.