Retirement Systems of Alabama Decreases Position in State Street Co. (NYSE:STT)

Retirement Systems of Alabama cut its holdings in State Street Co. (NYSE:STT) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,323 shares of the asset manager’s stock after selling 1,131 shares during the period. Retirement Systems of Alabama’s holdings in State Street were worth $5,779,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STT. Ashton Thomas Private Wealth LLC bought a new stake in shares of State Street in the 2nd quarter valued at about $27,000. Coastline Trust Co purchased a new position in State Street in the 3rd quarter worth approximately $44,000. Capital Performance Advisors LLP bought a new stake in State Street in the third quarter valued at approximately $54,000. Family Firm Inc. purchased a new stake in shares of State Street during the second quarter valued at approximately $61,000. Finally, LRI Investments LLC grew its holdings in shares of State Street by 202.7% in the second quarter. LRI Investments LLC now owns 993 shares of the asset manager’s stock worth $73,000 after purchasing an additional 665 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated 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 owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,224,625.00. Following the sale, 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 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 valued at $2,499,860 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STT. 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. Evercore ISI upped their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley raised State Street from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $102.00 to $139.00 in a research report on Monday, December 9th. Finally, Barclays lifted their price objective on State Street from $103.00 to $108.00 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, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $97.32.

State Street Stock Performance

Shares of State Street stock opened at $94.74 on Thursday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $101.91. The firm has a market capitalization of $27.77 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $95.27 and a two-hundred day simple moving average of $85.82.

State Street (NYSE:STT) last issued its quarterly earnings results 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. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. On average, equities analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

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.