State Street Corporation $STT Stock Sold by Regents of The University of California

Regents of The University of California decreased its stake in State Street Corporation (NYSE:STT) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,874,043 shares of the asset manager’s stock after selling 43,788 shares during the period. State Street comprises about 26.0% of Regents of The University of California’s investment portfolio, making the stock its 2nd biggest position. Regents of The University of California owned 3.59% of State Street worth $1,723,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in STT. Asset Management One Co. Ltd. raised its position in State Street by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 189,035 shares of the asset manager’s stock valued at $33,004,000 after purchasing an additional 603 shares in the last quarter. SYM FINANCIAL Corp lifted its stake in State Street by 2.6% during the third quarter. SYM FINANCIAL Corp now owns 2,909 shares of the asset manager’s stock worth $508,000 after purchasing an additional 73 shares during the last quarter. Ashton Thomas Securities LLC lifted its stake in State Street by 78.1% during the third quarter. Ashton Thomas Securities LLC now owns 3,355 shares of the asset manager’s stock worth $586,000 after purchasing an additional 1,471 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of State Street by 10.4% in the 3rd quarter. Park Avenue Securities LLC now owns 16,782 shares of the asset manager’s stock worth $2,930,000 after purchasing an additional 1,583 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new position in shares of State Street in the 3rd quarter worth about $319,000. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

State Street stock opened at $170.94 on Wednesday. The firm has a fifty day simple moving average of $181.07 and a two-hundred day simple moving average of $158.14. State Street Corporation has a twelve month low of $111.63 and a twelve month high of $195.93.

State Street (NYSE:STT) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.01. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the company earned $2.78 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that State Street Corporation will post 13.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on STT shares. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. JPMorgan Chase & Co. boosted their target price on State Street from $187.00 to $187.50 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Citigroup cut their target price on State Street from $212.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Capital One Financial set a $200.00 price target on shares of State Street in a research report on Tuesday, October 6th. Finally, The Goldman Sachs Group increased their price target on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.74.

Insider Buying and Selling at State Street

In related news, CEO Ronald O’Hanley sold 14,554 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the completion of the sale, the chief executive officer directly owned 215,905 shares in the company, valued at $35,537,963. This represents a 6.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.27% of the company’s stock.

State Street Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.