Bank of New York Mellon Corp lowered its stake in shares of State Street Corp. (NYSE:STT) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,054,143 shares of the company’s stock after selling 166,675 shares during the period. Bank of New York Mellon Corp’s holdings in State Street Corp. were worth $282,288,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new stake in shares of State Street Corp. during the second quarter valued at about $223,563,000. Yacktman Asset Management LP boosted its stake in shares of State Street Corp. by 0.9% in the second quarter. Yacktman Asset Management LP now owns 1,690,800 shares of the company’s stock valued at $91,168,000 after buying an additional 15,000 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of State Street Corp. by 2.2% in the second quarter. Brandes Investment Partners LP now owns 2,678,770 shares of the company’s stock valued at $144,439,000 after buying an additional 58,873 shares in the last quarter. Strs Ohio boosted its stake in shares of State Street Corp. by 0.3% in the second quarter. Strs Ohio now owns 650,842 shares of the company’s stock valued at $35,093,000 after buying an additional 2,180 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of State Street Corp. by 196.9% in the third quarter. Nordea Investment Management AB now owns 57,620 shares of the company’s stock valued at $4,012,000 after buying an additional 38,216 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

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

Shares of State Street Corp. (NYSE:STT) opened at 77.01 on Wednesday. State Street Corp. has a 12 month low of $50.60 and a 12 month high of $79.27. The stock’s 50 day moving average is $73.23 and its 200 day moving average is $66.13. The company has a market capitalization of $29.71 billion, a P/E ratio of 15.76 and a beta of 1.32.

State Street Corp. (NYSE:STT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.10. State Street Corp. had a net margin of 19.97% and a return on equity of 11.59%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the prior year, the business posted $1.16 EPS. State Street Corp.’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that State Street Corp. will post $5.09 EPS for the current fiscal year.

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Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of State Street Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Credit Suisse Group AG assumed coverage on shares of State Street Corp. in a report on Tuesday, November 22nd. They issued a “neutral” rating and a $74.00 target price on the stock. Morgan Stanley upgraded shares of State Street Corp. from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $64.00 to $84.00 in a report on Monday, November 14th. Jefferies Group raised their target price on shares of State Street Corp. from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, October 10th. Finally, Barclays PLC restated a “buy” rating and issued a $71.00 target price on shares of State Street Corp. in a report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.81.

In other State Street Corp. news, EVP Jeffrey N. Carp sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $69.26, for a total transaction of $1,038,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karen C. Keenan sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $70.57, for a total transaction of $70,570.00. Following the transaction, the executive vice president now owns 48,547 shares in the company, valued at approximately $3,425,961.79. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

About State Street Corp.

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

5 Day Chart for NYSE:STT

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