GHP Investment Advisors Inc. Sells 995 Shares of State Street Corp (STT)

GHP Investment Advisors Inc. decreased its stake in State Street Corp (NYSE:STT) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,509 shares of the asset manager’s stock after selling 995 shares during the period. GHP Investment Advisors Inc.’s holdings in State Street were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership increased its stake in shares of State Street by 1.0% in the second quarter. Artisan Partners Limited Partnership now owns 5,389,168 shares of the asset manager’s stock valued at $501,678,000 after buying an additional 50,779 shares during the period. Vulcan Value Partners LLC increased its stake in shares of State Street by 4.3% in the second quarter. Vulcan Value Partners LLC now owns 4,952,036 shares of the asset manager’s stock valued at $460,985,000 after buying an additional 205,964 shares during the period. Northern Trust Corp increased its stake in shares of State Street by 1.0% in the second quarter. Northern Trust Corp now owns 4,833,134 shares of the asset manager’s stock valued at $449,916,000 after buying an additional 47,467 shares during the period. Coho Partners Ltd. increased its stake in shares of State Street by 3.0% in the second quarter. Coho Partners Ltd. now owns 1,623,977 shares of the asset manager’s stock valued at $151,176,000 after buying an additional 46,598 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of State Street by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,366,931 shares of the asset manager’s stock valued at $127,248,000 after buying an additional 32,767 shares during the period. 86.73% of the stock is owned by institutional investors.

Several equities research analysts recently commented on STT shares. Credit Suisse Group cut their target price on State Street from $110.00 to $103.00 and set a “$87.02” rating on the stock in a research report on Monday, July 23rd. Barclays cut their target price on State Street from $120.00 to $110.00 and set a “$87.02” rating on the stock in a research report on Monday, July 23rd. Deutsche Bank cut their target price on State Street from $116.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 29th. Keefe, Bruyette & Woods restated a “buy” rating and set a $100.00 target price on shares of State Street in a research report on Monday, July 23rd. Finally, Wells Fargo & Co set a $105.00 target price on State Street and gave the company a “buy” rating in a research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. State Street currently has an average rating of “Hold” and a consensus price target of $105.07.

Shares of State Street stock opened at $82.15 on Thursday. State Street Corp has a one year low of $79.99 and a one year high of $114.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $30.65 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.00 and a beta of 1.22.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, July 20th. The asset manager reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.13). The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.05 billion. State Street had a return on equity of 14.98% and a net margin of 19.56%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 EPS. Equities research analysts expect that State Street Corp will post 7.66 earnings per share for the current fiscal year.

In other State Street news, insider Jeff D. Conway sold 343 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $83.16, for a total value of $28,523.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph L. Hooley sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.01, for a total value of $2,075,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,954 shares of company stock worth $2,237,777. Corporate insiders own 0.40% of the company’s stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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

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