State Street Co. (NYSE:STT) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd trimmed its holdings in shares of State Street Co. (NYSE:STT) by 44.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,059,534 shares of the asset manager’s stock after selling 842,254 shares during the period. AustralianSuper Pty Ltd’s holdings in State Street were worth $93,737,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STT. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in State Street by 4.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock valued at $72,789,000 after acquiring an additional 40,835 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after purchasing an additional 6,363 shares during the period. M&G Plc purchased a new stake in State Street during the first quarter worth about $7,626,000. Cetera Investment Advisers grew its position in State Street by 127.8% during the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after buying an additional 24,906 shares during the period. Finally, FORA Capital LLC increased its holdings in State Street by 549.0% in the first quarter. FORA Capital LLC now owns 27,425 shares of the asset manager’s stock valued at $2,121,000 after buying an additional 23,199 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Down 0.6 %

State Street stock traded down $0.52 during trading on Thursday, hitting $92.41. The company’s stock had a trading volume of 472,526 shares, compared to its average volume of 2,219,594. The stock’s fifty day moving average is $87.76 and its 200 day moving average is $80.44. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. State Street Co. has a 1-year low of $63.57 and a 1-year high of $94.60. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.16 and a beta of 1.48.

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 the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the firm posted $1.93 EPS. The company’s revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts predict that State Street Co. will post 8.38 EPS for the current year.

Insider Buying and Selling at State Street

In other 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 directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on STT shares. Royal Bank of Canada upped their price target on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Barclays upped their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup lifted their price target on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Bank of America lifted their price objective on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and an average target price of $91.39.

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.