Voya Financial Advisors Inc. Cuts Holdings in State Street Co. (NYSE:STT)

Voya Financial Advisors Inc. lessened its stake in State Street Co. (NYSE:STT) by 20.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,555 shares of the asset manager’s stock after selling 659 shares during the period. Voya Financial Advisors Inc.’s holdings in State Street were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. grew its stake in State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after buying an additional 129 shares in the last quarter. Rockland Trust Co. lifted its holdings in shares of State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after acquiring an additional 150 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after acquiring an additional 158 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of State Street by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock worth $512,000 after acquiring an additional 184 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of State Street by 8.3% in the 3rd quarter. Allworth Financial LP now owns 2,425 shares of the asset manager’s stock worth $215,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.2 %

Shares of NYSE STT opened at $98.39 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 12 month low of $70.20 and a 12 month high of $99.75. The firm has a market capitalization of $28.84 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. The firm has a fifty day simple moving average of $93.17 and a two-hundred day simple moving average of $84.27.

State Street (NYSE:STT) last issued its quarterly earnings data 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 net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business earned $1.93 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STT shares. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Monday, December 2nd. Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.68.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated 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 directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

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.