Huntington National Bank Trims Holdings in State Street Co. (NYSE:STT)

Huntington National Bank cut its position in shares of State Street Co. (NYSE:STT) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,521 shares of the asset manager’s stock after selling 160 shares during the quarter. Huntington National Bank’s holdings in State Street were worth $1,019,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STT. LSV Asset Management grew its stake in State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after acquiring an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of 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 boosted its holdings in shares of 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 grew its position in shares of State Street by 13.1% in the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares during the period. Finally, National Bank of Canada FI increased its stake in State Street by 443.1% in the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock valued at $32,765,000 after purchasing an additional 363,399 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated 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. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of several recent analyst reports. Barclays lifted their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a 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 report on Thursday, September 26th. Evercore ISI increased their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Citigroup increased their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.11.

State Street Trading Up 1.4 %

Shares of STT opened at $95.48 on Friday. 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 Co. has a 12 month low of $68.92 and a 12 month high of $98.45. The stock has a market cap of $27.99 billion, a PE ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 1.46. The stock’s 50-day moving average is $89.76 and its two-hundred day moving average is $81.98.

State Street (NYSE:STT) last released its quarterly 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company posted $1.93 EPS. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal 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.