Evercore Wealth Management LLC lowered its position in shares of State Street Corp (NYSE:STT) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,890 shares of the asset manager’s stock after selling 2,291 shares during the period. Evercore Wealth Management LLC’s holdings in State Street were worth $2,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ally Financial Inc. boosted its holdings in shares of State Street by 83.3% during the third quarter. Ally Financial Inc. now owns 55,000 shares of the asset manager’s stock valued at $4,608,000 after acquiring an additional 25,000 shares during the period. WEALTHFRONT Corp acquired a new stake in State Street in the third quarter worth about $1,195,000. Utah Retirement Systems lifted its holdings in State Street by 4.0% in the third quarter. Utah Retirement Systems now owns 69,814 shares of the asset manager’s stock worth $5,849,000 after purchasing an additional 2,700 shares during the period. Bailard Inc. lifted its holdings in State Street by 9.2% in the third quarter. Bailard Inc. now owns 48,443 shares of the asset manager’s stock worth $4,059,000 after purchasing an additional 4,080 shares during the period. Finally, Assetmark Inc. lifted its holdings in State Street by 7.2% in the third quarter. Assetmark Inc. now owns 79,073 shares of the asset manager’s stock worth $6,625,000 after purchasing an additional 5,331 shares during the period. Institutional investors own 87.22% of the company’s stock.

Shares of State Street stock opened at $65.90 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. State Street Corp has a 52 week low of $63.40 and a 52 week high of $114.27. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.99 and a beta of 1.35.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.02). State Street had a return on equity of 14.99% and a net margin of 19.90%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm posted $1.71 earnings per share. State Street’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts predict that State Street Corp will post 7.42 earnings per share for the current year.

In other State Street news, Director Saint-Aignan Patrick De purchased 500 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were purchased at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the completion of the transaction, the director now owns 25,138 shares in the company, valued at $1,724,969.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Louis D. Maiuri purchased 740 shares of the company’s stock in a transaction on Wednesday, October 24th. The stock was acquired at an average price of $67.60 per share, for a total transaction of $50,024.00. Following the completion of the transaction, the executive vice president now owns 45,314 shares of the company’s stock, valued at approximately $3,063,226.40. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by insiders.

Several research firms recently weighed in on STT. Wells Fargo & Co set a $82.00 price objective on shares of State Street and gave the stock an “outperform” rating in a report on Thursday. Keefe, Bruyette & Woods set a $90.00 price objective on shares of State Street and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Wolfe Research began coverage on shares of State Street in a report on Tuesday, September 25th. They issued a “market perform” rating for the company. Morgan Stanley raised shares of State Street from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $109.00 to $115.00 in a report on Tuesday, September 4th. Finally, Deutsche Bank reduced their price objective on shares of State Street from $102.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $100.93.

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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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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