SPF Beheer BV boosted its position in shares of State Street Corporation (NYSE:STT) by 6.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 863,510 shares of the asset manager’s stock after acquiring an additional 52,389 shares during the quarter. State Street Corporation comprises about 3.5% of SPF Beheer BV’s portfolio, making the stock its 8th largest position. SPF Beheer BV owned about 0.23% of State Street Corporation worth $82,862,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fayez Sarofim & Co. raised its stake in shares of State Street Corporation by 9.9% during the 3rd quarter. Fayez Sarofim & Co. now owns 2,801,012 shares of the asset manager’s stock valued at $267,609,000 after buying an additional 251,520 shares during the last quarter. Banque Pictet & Cie SA raised its stake in shares of State Street Corporation by 1.6% during the 3rd quarter. Banque Pictet & Cie SA now owns 87,895 shares of the asset manager’s stock valued at $8,397,000 after buying an additional 1,355 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of State Street Corporation during the 3rd quarter valued at about $2,040,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of State Street Corporation by 1.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 85,500 shares of the asset manager’s stock valued at $8,169,000 after buying an additional 1,556 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of State Street Corporation by 6.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,220,793 shares of the asset manager’s stock valued at $116,635,000 after buying an additional 78,429 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.
A number of equities analysts have weighed in on STT shares. Zacks Investment Research upgraded State Street Corporation from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Thursday, July 27th. Morgan Stanley lifted their price objective on State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Jefferies Group LLC restated a “hold” rating and issued a $100.00 price target on shares of State Street Corporation in a research note on Friday, September 15th. Finally, Keefe, Bruyette & Woods set a $93.00 price target on State Street Corporation and gave the company a “hold” rating in a research note 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 given a strong buy rating to the company. State Street Corporation presently has an average rating of “Hold” and an average price target of $96.47.
State Street Corporation (STT) traded up $0.75 on Tuesday, reaching $93.06. The company had a trading volume of 1,196,500 shares, compared to its average volume of 1,969,193. State Street Corporation has a 12-month low of $74.45 and a 12-month high of $99.99. The firm has a market capitalization of $34,510.00, a PE ratio of 15.21, a PEG ratio of 1.57 and a beta of 1.35. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61.
State Street Corporation (NYSE:STT) last released its quarterly earnings data 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 period in the prior year, the firm posted $1.35 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts predict that State Street Corporation will post 6.25 earnings per share for the current year.
In other news, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total transaction of $2,315,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. Insiders sold 28,724 shares of company stock worth $2,659,741 over the last quarter. 0.71% of the stock is currently owned by insiders.
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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