State Street Co. (NYSE:STT) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in State Street Co. (NYSE:STT - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 711,416 shares of the asset manager's stock after selling 61,240 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of State Street worth $62,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STT. Envestnet Portfolio Solutions Inc. lifted its stake in State Street by 11.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,282 shares of the asset manager's stock worth $640,000 after purchasing an additional 839 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of State Street by 14.9% during the 1st quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager's stock worth $296,000 after acquiring an additional 498 shares during the last quarter. Entropy Technologies LP purchased a new position in State Street during the 1st quarter valued at $339,000. State Board of Administration of Florida Retirement System grew its position in State Street by 6.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 397,186 shares of the asset manager's stock valued at $30,063,000 after acquiring an additional 24,210 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in State Street by 15.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 366,434 shares of the asset manager's stock worth $28,333,000 after purchasing an additional 50,034 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

STT has been the topic of a number of research reports. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a report on Monday. Morgan Stanley lifted their price target on State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their price target 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 upped their price objective 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of "Hold" and a consensus target price of $92.11.

State Street Stock Performance

Shares of NYSE:STT traded up $1.30 during midday trading on Friday, reaching $95.48. The company's stock had a trading volume of 2,349,365 shares, compared to its average volume of 2,217,501. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average of $89.76 and a 200 day moving average of $81.98. State Street Co. has a twelve month low of $68.92 and a twelve month high of $98.45. The firm has a market capitalization of $27.99 billion, a PE ratio of 15.05, a P/E/G ratio of 1.18 and a beta of 1.46.

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 for the quarter, topping the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.93 EPS. On average, equities analysts expect that State Street Co. will post 8.42 EPS for the current fiscal year.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value 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 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.