Ironwood Investment Counsel LLC grew its holdings in shares of State Street Corporation (NYSE:STT) by 14.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,232 shares of the asset manager’s stock after purchasing an additional 800 shares during the period. Ironwood Investment Counsel LLC’s holdings in State Street Corporation were worth $595,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its holdings in shares of State Street Corporation by 26.5% during the third quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 862 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of State Street Corporation by 5.8% during the second quarter. Commonwealth Bank of Australia now owns 61,202 shares of the asset manager’s stock valued at $5,490,000 after purchasing an additional 3,365 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of State Street Corporation during the second quarter valued at approximately $4,730,000. Boston Advisors LLC purchased a new position in shares of State Street Corporation during the third quarter valued at approximately $13,279,000. Finally, Pennsylvania Trust Co lifted its holdings in shares of State Street Corporation by 6.5% during the second quarter. Pennsylvania Trust Co now owns 3,948 shares of the asset manager’s stock valued at $361,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 87.81% of the company’s stock.
In other State Street Corporation news, insider Andrew Erickson sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $93.01, for a total transaction of $32,832.53. Following the transaction, the insider now owns 21,170 shares in the company, valued at approximately $1,969,021.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $92.55, for a total transaction of $296,160.00. Following the transaction, the insider now owns 39,896 shares in the company, valued at approximately $3,692,374.80. The disclosure for this sale can be found here. Insiders have sold a total of 3,814 shares of company stock worth $353,485 in the last 90 days. 0.71% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on STT. Wells Fargo & Company began coverage on shares of State Street Corporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price target for the company. Barclays PLC raised their price target on shares of State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Wednesday, August 30th. Jefferies Group LLC reissued a “hold” rating and set a $100.00 price target on shares of State Street Corporation in a research report on Friday, September 15th. Finally, Keefe, Bruyette & Woods reissued an “underweight” rating on shares of State Street Corporation in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.07.
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State Street Corporation (NYSE STT) traded up 0.40% during midday trading on Wednesday, reaching $92.37. 465,991 shares of the company’s stock were exchanged. State Street Corporation has a 12-month low of $69.49 and a 12-month high of $99.99. The stock has a market capitalization of $34.54 billion, a price-to-earnings ratio of 17.06 and a beta of 1.31. The stock’s 50-day moving average is $96.22 and its 200-day moving average is $90.17.
State Street Corporation (NYSE:STT) last issued its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. State Street Corporation had a net margin of 20.56% and a return on equity of 13.03%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the business posted $1.35 EPS. State Street Corporation’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that State Street Corporation will post $6.26 earnings per share for the current year.
State Street Corporation Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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