State Street Co. (NYSE:STT) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC trimmed its holdings in State Street Co. (NYSE:STT) by 22.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,905 shares of the asset manager’s stock after selling 20,339 shares during the period. Principal Street Partners LLC’s holdings in State Street were worth $6,163,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. LRI Investments LLC bought a new stake in shares of State Street in the first quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new position in State Street during the 2nd quarter worth $27,000. Versant Capital Management Inc increased its position in shares of State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of State Street in the 3rd quarter valued at about $44,000. Finally, Trust Co. of Vermont lifted its position in shares of State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after purchasing an additional 200 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on STT. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Evercore ISI boosted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.11.

State Street Trading Down 0.7 %

State Street stock opened at $98.14 on Tuesday. The firm has a 50-day moving average price of $91.56 and a two-hundred day moving average price of $83.17. State Street Co. has a 52-week low of $69.56 and a 52-week high of $99.50. The firm has a market capitalization of $28.77 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.20 and a beta of 1.46. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates 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 for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Sell-side analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

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.