Perpetual Ltd Takes $1.67 Million Position in State Street Corporation (STT)

Perpetual Ltd purchased a new stake in shares of State Street Corporation (NYSE:STT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,640 shares of the asset manager’s stock, valued at approximately $1,673,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of State Street Corporation 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 purchasing an additional 172 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of State Street Corporation in the 2nd quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. raised its position in shares of State Street Corporation 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 purchasing an additional 168 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of State Street Corporation by 5.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 75 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of State Street Corporation by 2,677.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 964 shares during the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.

STT has been the subject of several research analyst reports. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, August 22nd. Buckingham Research reaffirmed a “buy” rating and issued a $107.00 price objective (up from $94.00) on shares of State Street Corporation in a research report on Monday, July 10th. Goldman Sachs Group, Inc. (The) raised shares of State Street Corporation from a “buy” rating to a “conviction-buy” rating and increased their price objective for the company from $92.00 to $100.00 in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods set a $88.00 price objective on shares of State Street Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $86.00 price objective on shares of State Street Corporation in a research report on Friday, June 23rd. 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 given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $95.07.

In other news, Director Amelia C. Fawcett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $93.38, for a total transaction of $466,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $92.55, for a total value of $296,160.00. Following the sale, the insider now owns 39,896 shares of the company’s stock, valued at approximately $3,692,374.80. The disclosure for this sale can be found here. Insiders have sold 8,814 shares of company stock valued at $820,385 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Shares of State Street Corporation (STT) traded down 1.32% during midday trading on Thursday, hitting $97.05. 295,784 shares of the stock were exchanged. The firm has a 50 day moving average of $95.61 and a 200-day moving average of $89.09. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 17.92 and a beta of 1.31. State Street Corporation has a one year low of $68.54 and a one year high of $99.99.

State Street Corporation (NYSE:STT) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that State Street Corporation will post $6.18 EPS for the current year.

State Street Corporation announced that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $1.40 billion in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This article was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another domain, it was copied illegally and republished in vi

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of State Street Corporation 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 purchasing an additional 172 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of State Street Corporation in the 2nd quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. raised its position in shares of State Street Corporation 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 purchasing an additional 168 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of State Street Corporation by 5.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 75 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of State Street Corporation by 2,677.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 964 shares during the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.

STT has been the subject of several research analyst reports. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, August 22nd. Buckingham Research reaffirmed a “buy” rating and issued a $107.00 price objective (up from $94.00) on shares of State Street Corporation in a research report on Monday, July 10th. Goldman Sachs Group, Inc. (The) raised shares of State Street Corporation from a “buy” rating to a “conviction-buy” rating and increased their price objective for the company from $92.00 to $100.00 in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods set a $88.00 price objective on shares of State Street Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $86.00 price objective on shares of State Street Corporation in a research report on Friday, June 23rd. 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 given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $95.07.

In other news, Director Amelia C. Fawcett sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $93.38, for a total transaction of $466,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $92.55, for a total value of $296,160.00. Following the sale, the insider now owns 39,896 shares of the company’s stock, valued at approximately $3,692,374.80. The disclosure for this sale can be found here. Insiders have sold 8,814 shares of company stock valued at $820,385 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Shares of State Street Corporation (STT) traded down 1.32% during midday trading on Thursday, hitting $97.05. 295,784 shares of the stock were exchanged. The firm has a 50 day moving average of $95.61 and a 200-day moving average of $89.09. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 17.92 and a beta of 1.31. State Street Corporation has a one year low of $68.54 and a one year high of $99.99.

State Street Corporation (NYSE:STT) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that State Street Corporation will post $6.18 EPS for the current year.

State Street Corporation announced that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $1.40 billion in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This article was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://ledgergazette.com/2017/10/19/perpetual-ltd-takes-1-67-million-position-in-state-street-corporation-stt.html.

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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Institutional Ownership by Quarter for State Street Corporation (NYSE:STT)

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