Exencial Wealth Advisors LLC boosted its stake in shares of State Street Corp (NYSE:STT) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,698 shares of the asset manager’s stock after purchasing an additional 2,669 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in State Street were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of STT. Moneta Group Investment Advisors LLC boosted its holdings in State Street by 3,604.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock worth $103,000 after acquiring an additional 28,833 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in State Street in the second quarter worth about $109,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in State Street by 1,855.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,349 shares of the asset manager’s stock worth $113,000 after acquiring an additional 1,280 shares in the last quarter. Delta Asset Management LLC TN acquired a new stake in State Street in the second quarter worth about $142,000. Finally, Sageworth Trust Co boosted its holdings in State Street by 1,151.7% in the third quarter. Sageworth Trust Co now owns 1,815 shares of the asset manager’s stock worth $152,000 after acquiring an additional 1,670 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. ValuEngine downgraded State Street from a “sell” rating to a “strong sell” rating in a report on Friday, August 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of State Street in a report on Friday, August 3rd. Barclays lowered their price target on State Street from $120.00 to $110.00 and set a “$87.02” rating for the company in a report on Monday, July 23rd. Wolfe Research assumed coverage on State Street in a report on Tuesday, September 25th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Co set a $105.00 price target on State Street and gave the stock a “buy” rating in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $103.07.
In related news, CEO Joseph L. Hooley sold 25,000 shares of State Street stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.01, for a total transaction of $2,075,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Saint-Aignan Patrick De purchased 500 shares of State Street stock in a transaction that occurred on Tuesday, October 23rd. The shares were bought at an average price of $68.62 per share, with a total value of $34,310.00. Following the completion of the transaction, the director now owns 25,138 shares of the company’s stock, valued at approximately $1,724,969.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 26,954 shares of company stock valued at $2,237,777. 0.40% of the stock is owned by company insiders.
Shares of STT stock opened at $71.91 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $26.56 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.02 and a beta of 1.34. State Street Corp has a twelve month low of $65.81 and a twelve month high of $114.27.
State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.02). The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.02 billion. State Street had a net margin of 19.90% and a return on equity of 14.99%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 earnings per share. As a group, equities analysts predict that State Street Corp will post 7.42 earnings per share for the current year.
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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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