State Street Co. (NYSE:STT) Holdings Trimmed by Principal Street Partners LLC

Principal Street Partners LLC reduced its position in shares of State Street Co. (NYSE:STT) by 22.5% during the third quarter, Holdings Channel.com reports. The fund owned 69,905 shares of the asset manager’s stock after selling 20,339 shares during the quarter. Principal Street Partners LLC’s holdings in State Street were worth $6,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STT. Advisors Asset Management Inc. raised its holdings in shares of State Street by 35.7% in the 1st quarter. Advisors Asset Management Inc. now owns 16,253 shares of the asset manager’s stock worth $1,257,000 after purchasing an additional 4,276 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in State Street by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 576,333 shares of the asset manager’s stock worth $44,563,000 after buying an additional 105,710 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of State Street in the first quarter valued at $908,000. Tidal Investments LLC lifted its position in shares of State Street by 6.7% during the 1st quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock valued at $552,000 after acquiring an additional 448 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of State Street by 51.2% during the 1st quarter. Comerica Bank now owns 151,865 shares of the asset manager’s stock valued at $11,742,000 after acquiring an additional 51,404 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In other news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

State Street Trading Down 0.7 %

Shares of NYSE:STT opened at $98.14 on Tuesday. State Street Co. has a 12-month low of $69.56 and a 12-month high of $99.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $28.77 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.46. The firm has a fifty day moving average of $91.56 and a two-hundred day moving average of $83.17.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities analysts expect that State Street Co. will post 8.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barclays upped their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.11.

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.