California State Teachers Retirement System decreased its position in State Street Corporation (NYSE:STT) by 7.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 658,352 shares of the asset manager’s stock after selling 55,921 shares during the period. California State Teachers Retirement System owned 0.18% of State Street worth $62,899,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in State Street by 18.0% during the second quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock worth $105,000 after buying an additional 172 shares during the period. Penserra Capital Management LLC purchased a new stake in State Street during the second quarter worth $107,000. Bronfman E.L. Rothschild L.P. lifted its holdings in State Street by 15.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock worth $114,000 after buying an additional 168 shares during the period. Eagle Asset Management Inc. purchased a new stake in State Street during the second quarter worth $200,000. Finally, Sabal Trust CO purchased a new stake in State Street during the third quarter worth $201,000. Hedge funds and other institutional investors own 88.10% of the company’s stock.
State Street Corporation (STT) traded up $1.00 during midday trading on Thursday, hitting $99.18. The company had a trading volume of 2,783,600 shares, compared to its average volume of 1,961,527. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. State Street Corporation has a 52-week low of $74.45 and a 52-week high of $100.90. The firm has a market cap of $36,408.75, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35.
In related news, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,724 shares of company stock worth $2,659,741. 0.71% of the stock is owned by insiders.
STT has been the subject of a number of analyst reports. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley upped their price target on State Street from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods set a $93.00 price target on State Street and gave the stock a “hold” rating in a research report on Monday, August 28th. Finally, Royal Bank of Canada reduced their price target on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. State Street has a consensus rating of “Hold” and an average price target of $97.60.
State Street Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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