State Street Co. (NYSE:STT) Stock Holdings Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in State Street Co. (NYSE:STT - Free Report) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,921 shares of the asset manager's stock after selling 8,741 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of State Street worth $25,915,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. abrdn plc increased its stake in shares of State Street by 3.6% during the third quarter. abrdn plc now owns 581,105 shares of the asset manager's stock worth $51,166,000 after acquiring an additional 20,146 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in State Street in the 3rd quarter valued at approximately $216,000. DekaBank Deutsche Girozentrale increased its position in State Street by 1.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 97,443 shares of the asset manager's stock worth $8,564,000 after purchasing an additional 991 shares during the period. Forsta AP Fonden raised its stake in shares of State Street by 8.4% during the 3rd quarter. Forsta AP Fonden now owns 68,300 shares of the asset manager's stock worth $6,043,000 after buying an additional 5,300 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager's stock valued at $6,069,000 after buying an additional 20,968 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the firm'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 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 approximately $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by company insiders.

State Street Price Performance

STT stock remained flat at $92.80 during midday trading on Friday. 1,908,858 shares of the company's stock were exchanged, compared to its average volume of 2,228,511. The stock's fifty day simple moving average is $87.96 and its 200-day simple moving average is $80.53. State Street Co. has a 1 year low of $65.16 and a 1 year high of $94.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54. The company has a market cap of $27.71 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.19 and a beta of 1.48.

State Street (NYSE:STT - Get Free Report) last released its quarterly 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company posted $1.93 EPS. State Street's revenue for the quarter was up 21.1% on a year-over-year basis. As a group, research analysts forecast that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on STT. Bank of America increased their price objective on State Street from $85.00 to $96.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their price target on shares of State Street from $98.00 to $106.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Evercore ISI raised 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $79.00 to $87.00 and gave the stock a "hold" rating in a research report on Monday, September 23rd. Finally, Citigroup lifted their price target on shares of State Street from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $91.39.

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.