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

AustralianSuper Pty Ltd cut its holdings in shares of State Street Co. (NYSE:STT) by 44.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,059,534 shares of the asset manager’s stock after selling 842,254 shares during the quarter. AustralianSuper Pty Ltd owned about 0.35% of State Street worth $93,737,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of State Street in the first quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street in the 2nd quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares during the period. Trust Co. of Vermont boosted its position in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 200 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of State Street in the second quarter valued at about $61,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Finally, Wells Fargo & Company raised their price objective on State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.39.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The shares were 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 directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by company insiders.

State Street Stock Down 0.6 %

Shares of NYSE STT traded down $0.52 during midday 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 company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54. The business’s fifty day simple moving average is $87.76 and its two-hundred day simple moving average is $80.44. The firm has a market capitalization of $27.60 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.16 and a beta of 1.48. State Street Co. has a 1 year low of $63.57 and a 1 year high of $94.60.

State Street (NYSE:STT) last posted its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for 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 was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 earnings per share. On average, equities analysts predict that State Street Co. will post 8.38 EPS for the current year.

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, 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.