New York State Common Retirement Fund Sells 47,900 Shares of State Street Co. (NYSE:STT)

New York State Common Retirement Fund lessened its position in shares of State Street Co. (NYSE:STT - Free Report) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 401,864 shares of the asset manager's stock after selling 47,900 shares during the period. New York State Common Retirement Fund owned approximately 0.13% of State Street worth $35,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of State Street by 5.4% during the second 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 in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager's stock worth $129,000 after buying an additional 148 shares during the last quarter. Rockland Trust Co. raised its position in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock valued at $737,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. raised its position in shares of State Street by 10.9% during the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager's stock valued at $125,000 after buying an additional 158 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of State Street by 13.0% during the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager's stock worth $119,000 after acquiring an additional 177 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STT has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on State Street from $85.00 to $91.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 17th. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Bank of America increased their target price on shares of State Street from $85.00 to $96.00 and gave the company an "underperform" rating in a report on Wednesday, July 17th. The Goldman Sachs Group raised their price objective on State Street from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Evercore ISI boosted their target price on State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, State Street has a consensus rating of "Hold" and a consensus target price of $91.39.

State Street Stock Performance

STT stock remained flat at $92.80 on Friday. The company had a trading volume of 2,158,886 shares, compared to its average volume of 2,242,916. The stock has a market capitalization of $27.71 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.19 and a beta of 1.46. The company has a 50-day moving average price of $88.14 and a two-hundred day moving average price of $80.76. State Street Co. has a 12 month low of $65.16 and a 12 month high of $94.60. 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 announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the previous year, the company earned $1.93 earnings per share. State Street's quarterly revenue was up 21.1% on a year-over-year basis. As a group, research analysts anticipate that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.