Tdam USA Inc. lifted its position in State Street Corp (NYSE:STT) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,184 shares of the asset manager’s stock after buying an additional 2,837 shares during the period. Tdam USA Inc.’s holdings in State Street were worth $2,835,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of STT. DnB Asset Management AS boosted its stake in State Street by 5.5% in the 2nd quarter. DnB Asset Management AS now owns 46,332 shares of the asset manager’s stock worth $4,313,000 after purchasing an additional 2,400 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in State Street by 44.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 16,712 shares of the asset manager’s stock worth $1,556,000 after purchasing an additional 5,151 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in State Street by 15.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,612 shares of the asset manager’s stock worth $616,000 after purchasing an additional 900 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in State Street by 23.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 63,218 shares of the asset manager’s stock worth $5,882,000 after purchasing an additional 12,112 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in State Street by 15.8% in the 2nd quarter. Trust Co. of Vermont now owns 4,252 shares of the asset manager’s stock worth $396,000 after purchasing an additional 580 shares in the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE STT opened at $69.98 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. State Street Corp has a 12 month low of $65.81 and a 12 month high of $114.27. The company has a market cap of $26.56 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34.
State Street (NYSE:STT) last announced its quarterly earnings data on Friday, October 19th. The asset manager reported $1.87 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.02). State Street had a net margin of 19.90% and a return on equity of 14.99%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that State Street Corp will post 7.42 earnings per share for the current year.
In other State Street news, EVP Louis D. Maiuri acquired 740 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was acquired at an average cost of $67.60 per share, for a total transaction of $50,024.00. Following the purchase, the executive vice president now owns 45,314 shares in the company, valued at approximately $3,063,226.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff D. Conway sold 343 shares of State Street stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $83.16, for a total transaction of $28,523.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,954 shares of company stock valued at $2,237,777. Company insiders own 0.40% of the company’s stock.
A number of research firms recently commented on STT. ValuEngine cut shares of State Street from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of State Street in a research note on Friday, August 3rd. Barclays lowered their target price on shares of State Street from $120.00 to $110.00 and set a “$87.02” rating for the company in a research note on Monday, July 23rd. Wolfe Research began coverage on shares of State Street in a research note on Tuesday, September 25th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Co set a $105.00 target price on shares of State Street and gave the stock a “buy” rating in a research note on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. State Street has a consensus rating of “Hold” and an average target price of $103.07.
State Street Profile
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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