Principal Street Partners LLC Sells 20,339 Shares of State Street Co. (NYSE:STT)

Principal Street Partners LLC cut its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,905 shares of the asset manager's stock after selling 20,339 shares during the quarter. Principal Street Partners LLC's holdings in State Street were worth $6,163,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in STT. Advisors Asset Management Inc. increased its stake in shares of State Street by 35.7% in the first quarter. Advisors Asset Management Inc. now owns 16,253 shares of the asset manager's stock worth $1,257,000 after buying an additional 4,276 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in State Street by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 576,333 shares of the asset manager's stock worth $44,563,000 after buying an additional 105,710 shares during the period. Bayesian Capital Management LP bought a new stake in State Street during the 1st quarter valued at approximately $908,000. Tidal Investments LLC grew its holdings in shares of State Street by 6.7% during the 1st quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager's stock worth $552,000 after acquiring an additional 448 shares during the period. Finally, Comerica Bank raised its position in shares of State Street by 51.2% in the 1st quarter. Comerica Bank now owns 151,865 shares of the asset manager's stock worth $11,742,000 after acquiring an additional 51,404 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on STT shares. The Goldman Sachs Group increased their price target on shares of State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on State Street from $100.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, State Street has an average rating of "Hold" and an average price target of $92.11.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company's 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 completion of the sale, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of the 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 transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by company insiders.

State Street Trading Up 0.0 %

Shares of STT traded up $0.01 during midday trading on Tuesday, hitting $98.80. The stock had a trading volume of 2,184,731 shares, compared to its average volume of 2,202,528. 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 1 year low of $69.56 and a 1 year high of $99.50. The firm has a market cap of $28.96 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.46. The stock's 50 day moving average is $91.56 and its 200 day moving average is $83.17.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 12.02% and a net margin of 9.87%. The company'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, analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

About State Street

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.