APG Asset Management N.V. reduced its holdings in State Street Corporation (NYSE:STT) by 26.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 724,380 shares of the asset manager’s stock after selling 255,800 shares during the quarter. APG Asset Management N.V. owned about 0.19% of State Street Corporation worth $69,207,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of STT. Parallel Advisors LLC lifted its holdings in shares of State Street Corporation by 18.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after buying an additional 172 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of State Street Corporation in the 2nd quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of State Street Corporation by 15.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after buying an additional 168 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of State Street Corporation by 5.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after buying an additional 75 shares during the period. Finally, Salem Investment Counselors Inc. lifted 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 during the period. 87.85% of the stock is owned by institutional investors and hedge funds.
State Street Corporation (NYSE STT) traded down $0.12 during trading hours on Friday, hitting $90.65. The company had a trading volume of 948,600 shares, compared to its average volume of 1,973,355. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. State Street Corporation has a fifty-two week low of $74.45 and a fifty-two week high of $99.99. The firm has a market capitalization of $33,660.85, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36.
State Street Corporation (NYSE:STT) last announced its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.10. The firm 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%. State Street Corporation’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 earnings per share. equities research analysts expect that State Street Corporation will post 6.25 EPS for the current fiscal year.
In other news, insider Andrew Erickson sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total transaction of $32,832.53. Following the completion of the transaction, the insider now directly owns 21,170 shares of the company’s stock, valued at $1,969,021.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the 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 disclosure for this sale can be found here. Insiders have sold 28,814 shares of company stock valued at $2,668,773 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.
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Several analysts have recently commented on the company. Wells Fargo & Company started coverage on State Street Corporation in a report on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 price target for the company. Barclays PLC lifted their price objective on State Street Corporation from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Zacks Investment Research raised State Street Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, August 30th. ValuEngine cut State Street Corporation from a “buy” rating to a “hold” rating in a report on Friday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of State Street Corporation in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $97.07.
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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