Commonwealth Equity Services Inc decreased its position in shares of State Street Corporation (NYSE:STT) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,861 shares of the asset manager’s stock after selling 1,993 shares during the period. Commonwealth Equity Services Inc’s holdings in State Street Corporation were worth $3,521,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC increased its position in shares of State Street Corporation by 18.0% in the second quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock worth $105,000 after purchasing an additional 172 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of State Street Corporation during the second quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of State Street Corporation by 15.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 168 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of State Street Corporation by 8,873.2% during the second quarter. Harbour Capital Advisors LLC now owns 16,421 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 16,238 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of State Street Corporation during the second quarter worth about $200,000. Institutional investors own 87.88% of the company’s stock.
In other news, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,724 shares of company stock worth $2,659,741 in the last ninety days. Insiders own 0.71% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded State Street Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Citigroup Inc. restated a “neutral” rating and set a $102.00 price objective (up from $88.00) on shares of State Street Corporation in a research report on Monday, October 9th. Royal Bank Of Canada lowered their target price on State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating for the company in a report on Tuesday, October 24th. Morgan Stanley lifted their target price on State Street Corporation from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company initiated coverage on State Street Corporation in a report on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $96.47.
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Shares of State Street Corporation (STT) traded up $0.03 during midday trading on Tuesday, hitting $93.09. The stock had a trading volume of 193,541 shares, compared to its average volume of 1,969,193. State Street Corporation has a 1 year low of $74.45 and a 1 year high of $99.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $34,510.00, a PE ratio of 15.21, a PEG ratio of 1.57 and a beta of 1.35.
State Street Corporation (NYSE:STT) last issued its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.10. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. research analysts forecast that State Street Corporation will post 6.25 earnings per share for the current fiscal 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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