Kentucky Retirement Systems Cuts Stock Holdings in State Street Co. (NYSE:STT)

Kentucky Retirement Systems lowered its position in State Street Co. (NYSE:STT) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,803 shares of the asset manager’s stock after selling 1,899 shares during the period. Kentucky Retirement Systems’ holdings in State Street were worth $1,840,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. LSV Asset Management lifted its position in shares of State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after acquiring an additional 634,422 shares during the period. Lazard Asset Management LLC boosted its position in State Street by 168.7% in the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after purchasing an additional 507,270 shares during the last quarter. Metropolis Capital Ltd increased its position in shares of State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of State Street by 443.1% during the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after purchasing an additional 363,399 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 1.4 %

Shares of State Street stock opened at $95.48 on Monday. The company has a 50 day simple moving average of $90.00 and a two-hundred day simple moving average of $82.26. The firm has a market cap of $27.99 billion, a PE ratio of 15.08, a PEG ratio of 1.18 and a beta of 1.46. State Street Co. has a 1 year low of $68.92 and a 1 year high of $98.45. 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 (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

STT has been the subject of several research reports. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barclays raised their price target on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their target price 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.11.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

State Street 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.