Retirement Systems of Alabama Sells 1,131 Shares of State Street Co. (NYSE:STT)

Retirement Systems of Alabama lessened its holdings in State Street Co. (NYSE:STT) by 1.7% during the third quarter, according to its most recent 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 also recently modified their holdings of STT. Peapack Gladstone Financial Corp boosted its position in State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after purchasing an additional 103 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the period. Rockland Trust Co. boosted 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 buying an additional 150 shares during the last quarter. Empirical Finance LLC grew its position in State Street by 1.4% during the third quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in State Street by 3.3% during the third quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager’s stock worth $512,000 after buying an additional 184 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STT. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Barclays boosted their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $97.32.

State Street Stock Down 4.0 %

Shares of NYSE:STT opened at $94.74 on Thursday. The firm has a fifty day moving average price of $95.27 and a two-hundred day moving average price of $85.82. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a one year low of $70.20 and a one year high of $101.91.

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

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of State Street 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. 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 value of $1,224,625.00. Following the transaction, the executive vice president now 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. Over the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. Insiders own 0.31% of the company’s stock.

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.