Bp Plc grew its holdings in shares of State Street Corp (NYSE:STT) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,000 shares of the asset manager’s stock after buying an additional 3,000 shares during the quarter. Bp Plc’s holdings in State Street were worth $3,938,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC boosted its stake in shares of State Street by 14.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 8,025 shares of the asset manager’s stock valued at $747,000 after buying an additional 1,015 shares during the last quarter. Maltese Capital Management LLC purchased a new position in shares of State Street during the 2nd quarter valued at approximately $7,717,000. Longview Partners Guernsey LTD boosted its stake in shares of State Street by 40.5% during the 3rd quarter. Longview Partners Guernsey LTD now owns 11,202,851 shares of the asset manager’s stock valued at $938,575,000 after buying an additional 3,230,396 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of State Street by 41.5% during the 2nd quarter. Schroder Investment Management Group now owns 16,408 shares of the asset manager’s stock valued at $1,547,000 after buying an additional 4,815 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of State Street by 87.3% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 195,908 shares of the asset manager’s stock valued at $18,237,000 after buying an additional 91,324 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.
In other news, Director Saint-Aignan Patrick De purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were acquired at an average cost of $68.62 per share, with a total value of $34,310.00. Following the transaction, the director now owns 25,138 shares in the company, valued at approximately $1,724,969.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP George E. Sullivan sold 1,611 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $83.18, for a total value of $134,002.98. Following the sale, the executive vice president now directly owns 58,847 shares in the company, valued at $4,894,893.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,954 shares of company stock worth $2,237,777. Corporate insiders own 0.40% of the company’s stock.
STT stock opened at $72.02 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $26.56 billion, a P/E ratio of 12.08, a PEG ratio of 1.02 and a beta of 1.34. State Street Corp has a 12-month low of $65.81 and a 12-month high of $114.27.
State Street (NYSE:STT) last posted its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.02). The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.02 billion. State Street had a net margin of 19.90% and a return on equity of 14.99%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 earnings per share. Sell-side analysts expect that State Street Corp will post 7.42 earnings per share for the current year.
Several equities analysts have recently commented on the company. Zacks Investment Research cut State Street from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Barclays reduced their target price on State Street from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 22nd. Credit Suisse Group reduced their target price on State Street from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, October 22nd. Royal Bank of Canada reiterated a “hold” rating and set a $95.00 target price on shares of State Street in a research note on Sunday, October 21st. Finally, ValuEngine lowered State Street from a “sell” rating to a “strong sell” rating in a research report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $103.07.
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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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