AustralianSuper Pty Ltd Sells 842,254 Shares of State Street Co. (NYSE:STT)

AustralianSuper Pty Ltd cut its holdings in State Street Co. (NYSE:STT - Free Report) by 44.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,059,534 shares of the asset manager's stock after selling 842,254 shares during the period. AustralianSuper Pty Ltd owned approximately 0.35% of State Street worth $93,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in shares of State Street in the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street in the 2nd quarter valued at about $27,000. Versant Capital Management Inc grew its stake 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 valued at $38,000 after buying an additional 416 shares during the period. Trust Co. of Vermont grew its stake in shares of State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager's stock valued at $48,000 after buying an additional 200 shares during the period. Finally, Family Firm Inc. acquired a new stake in shares of State Street in the 2nd quarter valued at about $61,000. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of State Street stock traded down $0.12 during trading on Thursday, hitting $92.81. The stock had a trading volume of 2,673,497 shares, compared to its average volume of 2,230,025. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.16 and a beta of 1.48. State Street Co. has a 12 month low of $63.57 and a 12 month high of $94.60. The business's 50-day moving average is $87.76 and its 200 day moving average is $80.44. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for 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%. The business's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 earnings per share. As a group, sell-side analysts anticipate that State Street Co. will post 8.38 earnings per share for the current year.

Insider Buying and Selling

In other State Street 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 transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STT shares. Morgan Stanley raised their target price on State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Bank of America raised their target price on State Street from $85.00 to $96.00 and gave the company an "underperform" rating in a research note on Wednesday, July 17th. Wells Fargo & Company raised their target price on State Street from $98.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on State Street from $85.00 to $91.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 17th. Finally, Citigroup lifted their price target on State Street from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Two 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $91.39.

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.