Strategic Wealth Partners Ltd. lifted its holdings in State Street Corp (NYSE:STT) by 1,038.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 353 shares of the asset manager’s stock after buying an additional 322 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in State Street were worth $30,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Longview Partners Guernsey LTD increased its holdings in 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 worth $938,575,000 after purchasing an additional 3,230,396 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in State Street by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 27,934,535 shares of the asset manager’s stock worth $2,340,355,000 after purchasing an additional 1,830,069 shares during the period. BlackRock Inc. increased its holdings in State Street by 5.7% during the 3rd quarter. BlackRock Inc. now owns 22,719,665 shares of the asset manager’s stock worth $1,903,454,000 after purchasing an additional 1,224,497 shares during the period. American Century Companies Inc. increased its holdings in State Street by 456.6% during the 3rd quarter. American Century Companies Inc. now owns 1,304,362 shares of the asset manager’s stock worth $109,279,000 after purchasing an additional 1,070,025 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in State Street by 1,216.8% during the 3rd quarter. Renaissance Technologies LLC now owns 1,078,831 shares of the asset manager’s stock worth $90,384,000 after purchasing an additional 996,900 shares during the period. Hedge funds and other institutional investors own 87.22% of the company’s stock.
Shares of NYSE STT opened at $65.04 on Friday. 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 firm has a market cap of $25.01 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.97 and a beta of 1.35. State Street Corp has a 12-month low of $63.40 and a 12-month high of $114.27.
State Street (NYSE:STT) last announced its earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share (EPS) 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 the consensus estimate 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 period last year, the business posted $1.71 EPS. As a group, equities research analysts expect that State Street Corp will post 7.39 EPS for the current year.
Several research analysts have commented on the company. Morgan Stanley upgraded State Street from an “equal weight” rating to an “overweight” rating in a report on Monday, September 10th. Zacks Investment Research upgraded State Street from a “sell” rating to a “hold” rating in a report on Wednesday. Deutsche Bank reduced their price objective on State Street from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Wells Fargo & Co set a $105.00 price objective on State Street and gave the stock a “buy” rating in a report on Thursday, August 16th. Finally, Credit Suisse Group reduced their price objective on State Street from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. State Street presently has a consensus rating of “Hold” and a consensus target price of $100.40.
In related news, EVP Louis D. Maiuri bought 740 shares of the company’s stock in a transaction on Wednesday, October 24th. The shares were acquired at an average price of $67.60 per share, with a total value of $50,024.00. Following the transaction, the executive vice president now owns 45,314 shares of the company’s stock, valued at $3,063,226.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Saint-Aignan Patrick De bought 500 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were bought at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the transaction, the director now directly owns 25,138 shares in the company, valued at approximately $1,724,969.56. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.
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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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