Y Intercept Hong Kong Ltd Sells 23,725 Shares of State Street Co. (NYSE:STT)

Y Intercept Hong Kong Ltd lessened its stake in State Street Co. (NYSE:STT - Free Report) by 66.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,234 shares of the asset manager's stock after selling 23,725 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in State Street were worth $1,082,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager's stock valued at $186,000 after buying an additional 129 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 worth $737,000 after purchasing an additional 150 shares during the period. Empirical Finance LLC lifted its holdings in shares of State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock worth $997,000 after purchasing an additional 158 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in State Street by 3.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager's stock valued at $512,000 after purchasing an additional 184 shares during the period. Finally, Allworth Financial LP increased its position in State Street by 8.3% in the third quarter. Allworth Financial LP now owns 2,425 shares of the asset manager's stock worth $215,000 after buying an additional 185 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Trading Up 1.3 %

NYSE STT traded up $1.34 on Thursday, hitting $100.61. 2,250,691 shares of the company were exchanged, compared to its average volume of 2,212,130. 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 twelve month low of $70.20 and a twelve month high of $101.91. The firm has a market capitalization of $29.49 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The company's 50 day moving average price is $94.12 and its 200-day moving average price is $84.97.

State Street (NYSE:STT - Get Free Report) last released its 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. Analysts predict that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction 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 trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock valued at $2,499,860 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STT. Deutsche Bank Aktiengesellschaft boosted their price objective on State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Barclays boosted their target price on State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on State Street from $106.00 to $108.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Morgan Stanley raised State Street from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $102.00 to $139.00 in a research note on Monday. Finally, StockNews.com raised State Street from a "hold" rating to a "buy" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $97.32.

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.