Bridges Investment Counsel Inc. lessened its position in shares of State Street Corporation (NYSE:STT) by 31.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,900 shares of the asset manager’s stock after selling 2,650 shares during the period. Bridges Investment Counsel Inc.’s holdings in State Street Corporation were worth $564,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in State Street Corporation by 18.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock worth $105,000 after acquiring an additional 172 shares in the last quarter. Penserra Capital Management LLC acquired a new position in State Street Corporation during the 2nd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. grew its holdings in State Street Corporation by 15.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock worth $114,000 after acquiring an additional 168 shares in the last quarter. NEXT Financial Group Inc grew its holdings in State Street Corporation by 5.5% during the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock worth $130,000 after acquiring an additional 75 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of State Street Corporation by 2,677.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after buying an additional 964 shares in the last quarter. Institutional investors own 87.68% of the company’s stock.
Shares of State Street Corporation (STT) traded down 0.78% during trading on Friday, hitting $94.00. 563,072 shares of the stock were exchanged. The stock has a market cap of $35.15 billion, a P/E ratio of 17.36 and a beta of 1.31. The stock has a 50-day moving average of $96.10 and a 200 day moving average of $89.73. State Street Corporation has a 12-month low of $69.49 and a 12-month high of $99.99.
State Street Corporation (NYSE:STT) last announced its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping the consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Equities analysts predict that State Street Corporation will post $6.26 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on STT. Buckingham Research restated a “buy” rating and issued a $107.00 target price (up previously from $94.00) on shares of State Street Corporation in a report on Monday, July 10th. Keefe, Bruyette & Woods set a $88.00 target price on shares of State Street Corporation and gave the company a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Tuesday, July 11th. Royal Bank Of Canada lowered their target price on shares of State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company began coverage on shares of State Street Corporation in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. State Street Corporation presently has an average rating of “Hold” and an average target price of $97.07.
In related news, insider Andrew Erickson sold 353 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total value of $32,832.53. Following the transaction, the insider now owns 21,170 shares in the company, valued at $1,969,021.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hannah M. Grove sold 3,200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $92.55, for a total value of $296,160.00. Following the completion of the transaction, the insider now owns 39,896 shares in the company, valued at approximately $3,692,374.80. The disclosure for this sale can be found here. Insiders have sold 3,814 shares of company stock worth $353,485 in the last 90 days. Company insiders own 0.71% of the company’s stock.
State Street Corporation Company 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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