Toronto Dominion Bank Sells 1,762 Shares of State Street Co. (NYSE:STT)

Toronto Dominion Bank lessened its stake in shares of State Street Co. (NYSE:STT) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,219 shares of the asset manager’s stock after selling 1,762 shares during the period. Toronto Dominion Bank owned 0.05% of State Street worth $13,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in State Street during the 2nd quarter valued at approximately $27,000. Coastline Trust Co purchased a new position in shares of State Street in the third quarter valued at $44,000. Capital Performance Advisors LLP bought a new stake in State Street in the third quarter worth $54,000. Family Firm Inc. purchased a new stake in State Street during the second quarter valued at $61,000. Finally, Tobam bought a new position in State Street during the third quarter valued at $77,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock opened at $100.48 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $29.45 billion, a PE ratio of 15.87, a P/E/G ratio of 1.23 and a beta of 1.44. The company has a 50 day moving average price of $94.68 and a 200-day moving average price of $85.25. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping 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 return on equity of 12.02% and a net margin of 9.87%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 EPS. As a group, equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In other State Street 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 completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STT. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley upgraded State Street from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $102.00 to $139.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price objective on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and a consensus price target of $97.32.

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.