VIRGINIA RETIREMENT SYSTEMS ET Al Sells 62,400 Shares of State Street Corporation $STT

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its stake in State Street Corporation (NYSE:STT) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,450 shares of the asset manager’s stock after selling 62,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.09% of State Street worth $41,980,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STT. Soltis Investment Advisors LLC raised its stake in State Street by 17.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 1,990 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 289 shares during the period. Founders Financial Securities LLC purchased a new stake in State Street during the third quarter valued at about $717,000. Interchange Capital Partners LLC boosted its position in State Street by 10.3% during the third quarter. Interchange Capital Partners LLC now owns 2,215 shares of the asset manager’s stock worth $387,000 after purchasing an additional 207 shares during the period. BOKF NA boosted its position in State Street by 1.3% during the third quarter. BOKF NA now owns 8,655 shares of the asset manager’s stock worth $1,511,000 after purchasing an additional 113 shares during the period. Finally, North Dakota State Investment Board increased its stake in shares of State Street by 146.1% in the third quarter. North Dakota State Investment Board now owns 20,392 shares of the asset manager’s stock worth $3,560,000 after purchasing an additional 12,106 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

STT has been the topic of several research reports. Capital One Financial set a $200.00 price target on shares of State Street in a research report on Tuesday, October 6th. BMO Capital Markets cut their price objective on shares of State Street from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Keefe, Bruyette & Woods lifted their price objective on shares of State Street from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of State Street from $187.50 to $192.50 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, State Street has a consensus rating of “Moderate Buy” and a consensus price target of $190.03.

State Street Trading Down 2.4%

Shares of STT opened at $169.63 on Friday. State Street Corporation has a twelve month low of $111.63 and a twelve month high of $195.93. The stock has a market cap of $46.15 billion, a PE ratio of 13.85, a P/E/G ratio of 0.80 and a beta of 1.41. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $180.18 and its 200-day moving average price is $158.73.

State Street (NYSE:STT) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating the consensus estimate of $3.68 by $0.01. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.11%. State Street’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.78 earnings per share. On average, equities analysts forecast that State Street Corporation will post 13.77 EPS for the current fiscal year.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: JPMorgan raised its price target for State Street from $187.50 to $192.50, implying meaningful potential upside from recent trading levels. However, the firm maintained a “neutral” rating, limiting the bullish impact. JPMorgan analyst action
• Neutral Sentiment: Barclays reiterated a “hold” view on STT. The lack of a positive rating change suggests analysts remain cautious despite State Street’s recent earnings beat and year-over-year revenue growth. Barclays hold rating
• Neutral Sentiment: State Street Global Advisors and affiliated entities reported changes to, or exits from, substantial holdings in several Australian-listed companies, including Deterra Royalties, Sims, Greatland Resources, Pantoro Gold, and Downer EDI. These portfolio disclosures appear routine and have limited direct implications for STT’s earnings.
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of State Street investors. The announcement does not establish wrongdoing, but the possibility of litigation adds a reputational and legal overhang to the shares. Pomerantz investor investigation
• Negative Sentiment: Executive Vice President W. Bradford Hu sold 7,099 shares worth approximately $1.2 million, reducing his position by 14.26%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than discretionary insider selling, but it may still weigh modestly on sentiment. State Street insider sale

Insider Buying and Selling at State Street

In related news, CEO Hanley Ronald P. O sold 14,554 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $164.60, for a total value of $2,395,588.40. Following the sale, the chief executive officer owned 215,905 shares in the company, valued at approximately $35,537,963. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $168.63, for a total value of $1,197,104.37. Following the completion of the sale, the executive vice president owned 42,695 shares in the company, valued at $7,199,657.85. This trade represents a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is owned by company insiders.

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.