Principal Financial Group Inc. Decreases Position in State Street Corporation (STT)

Principal Financial Group Inc. decreased its position in shares of State Street Corporation (NYSE:STT) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,115 shares of the asset manager’s stock after selling 133,480 shares during the period. Principal Financial Group Inc. owned about 0.16% of State Street Corporation worth $55,520,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Trust N.A. lifted its stake in State Street Corporation by 26.5% during the 3rd quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock worth $393,000 after acquiring an additional 862 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in State Street Corporation by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 61,202 shares of the asset manager’s stock worth $5,490,000 after acquiring an additional 3,365 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in State Street Corporation during the 2nd quarter worth about $4,730,000. Boston Advisors LLC acquired a new stake in State Street Corporation in the 3rd quarter valued at about $13,279,000. Finally, Pennsylvania Trust Co raised its position in State Street Corporation by 6.5% in the 2nd quarter. Pennsylvania Trust Co now owns 3,948 shares of the asset manager’s stock valued at $361,000 after purchasing an additional 240 shares in the last quarter. 88.15% of the stock is currently owned by hedge funds and other institutional investors.

State Street Corporation (NYSE STT) opened at $91.31 on Wednesday. State Street Corporation has a 12 month low of $74.45 and a 12 month high of $99.99. The firm has a market capitalization of $33,668.27, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61.

State Street Corporation (NYSE:STT) last announced its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. equities research analysts predict that State Street Corporation will post 6.25 earnings per share for the current fiscal year.

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STT has been the topic of a number of analyst reports. Zacks Investment Research lowered State Street Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Morgan Stanley increased their price target on State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Royal Bank Of Canada reduced their price target on State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods set a $93.00 price target on State Street Corporation and gave the company a “hold” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. State Street Corporation currently has an average rating of “Hold” and a consensus target price of $96.47.

In other news, insider Hannah M. Grove sold 3,200 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

About State Street Corporation

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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Institutional Ownership by Quarter for State Street Corporation (NYSE:STT)

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