Sumitomo Mitsui Asset Management Company LTD lowered its stake in State Street Corporation (NYSE:STT) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,006 shares of the asset manager’s stock after selling 1,521 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in State Street Corporation were worth $2,771,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of State Street Corporation by 1.9% during the second quarter. Vanguard Group Inc. now owns 24,022,695 shares of the asset manager’s stock worth $2,155,556,000 after purchasing an additional 448,658 shares in the last quarter. BlackRock Inc. raised its holdings in State Street Corporation by 2,256.7% in the first quarter. BlackRock Inc. now owns 20,603,959 shares of the asset manager’s stock valued at $1,640,284,000 after acquiring an additional 19,729,678 shares in the last quarter. FMR LLC raised its holdings in State Street Corporation by 10.8% in the second quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock valued at $1,793,591,000 after acquiring an additional 1,940,536 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in State Street Corporation by 76.9% in the second quarter. Longview Partners Guernsey LTD now owns 7,569,482 shares of the asset manager’s stock valued at $679,210,000 after acquiring an additional 3,290,082 shares in the last quarter. Finally, Capital International Investors raised its holdings in State Street Corporation by 33.3% in the second quarter. Capital International Investors now owns 3,533,631 shares of the asset manager’s stock valued at $317,073,000 after acquiring an additional 883,431 shares in the last quarter. 87.85% of the stock is currently owned by institutional investors.
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Shares of State Street Corporation (NYSE:STT) opened at $90.65 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $33,616.38, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36. State Street Corporation has a fifty-two week low of $74.45 and a fifty-two week high of $99.99.
State Street Corporation (NYSE:STT) last issued its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 EPS. equities research analysts forecast that State Street Corporation will post 6.25 earnings per share for the current fiscal year.
STT has been the topic of several analyst reports. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Thursday, July 27th. Morgan Stanley increased their price target on shares of State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $100.00 price target on shares of State Street Corporation in a research note on Friday, September 15th. Finally, Keefe, Bruyette & Woods set a $93.00 price target on shares of State Street Corporation and gave the company a “hold” rating in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $97.07.
In related 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 transaction of $296,448.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph L. Hooley sold 25,000 shares of State Street Corporation stock in a transaction 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. In the last three months, insiders have sold 28,814 shares of company stock worth $2,668,773. 0.71% of the stock is currently owned by insiders.
State Street Corporation 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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