Mckinley Capital Management LLC Delaware raised its holdings in State Street Corporation (NYSE:STT) by 24.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 349,787 shares of the asset manager’s stock after acquiring an additional 69,112 shares during the period. State Street makes up 1.4% of Mckinley Capital Management LLC Delaware’s investment portfolio, making the stock its 25th largest position. Mckinley Capital Management LLC Delaware owned about 0.09% of State Street worth $33,418,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in STT. Parallel Advisors LLC raised its holdings in shares of State Street by 18.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 172 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of State Street in the 2nd quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of State Street by 15.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after acquiring an additional 168 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of State Street by 8,873.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 16,421 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 16,238 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of State Street in the 2nd quarter valued at about $200,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of State Street Corporation (NYSE STT) traded up $1.78 during trading on Wednesday, hitting $93.14. The stock had a trading volume of 2,926,900 shares, compared to its average volume of 1,961,721. 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 company has a market cap of $34,287.56, a price-to-earnings ratio of 15.23, a PEG ratio of 1.58 and a beta of 1.36. State Street Corporation has a 12-month low of $74.45 and a 12-month high of $99.99.
In related news, insider Andrew Erickson sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was 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. Over the last 90 days, insiders have sold 28,724 shares of company stock worth $2,659,741. 0.71% of the stock is owned by corporate insiders.
STT has been the topic of several recent research reports. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Morgan Stanley increased their price objective on State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Royal Bank Of Canada reduced their price objective on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods set a $93.00 price objective on State Street and gave the company a “hold” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $96.47.
State Street 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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