Rhumbline Advisers lifted its holdings in shares of State Street Corporation (NYSE:STT) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,799 shares of the asset manager’s stock after buying an additional 17,400 shares during the quarter. Rhumbline Advisers owned about 0.17% of State Street Corporation worth $60,744,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Raymond James Trust N.A. grew its position in shares of State Street Corporation by 26.5% during the 3rd quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock worth $393,000 after buying an additional 862 shares during the period. Commonwealth Bank of Australia grew its position in shares of State Street Corporation by 5.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 61,202 shares of the asset manager’s stock worth $5,490,000 after buying an additional 3,365 shares during the period. Delta Lloyd Asset Management N.V. acquired a new stake in shares of State Street Corporation during the 2nd quarter worth approximately $4,730,000. Boston Advisors LLC acquired a new stake in shares of State Street Corporation during the 3rd quarter worth approximately $13,279,000. Finally, Pennsylvania Trust Co grew its position in shares of State Street Corporation by 6.5% during the 2nd quarter. Pennsylvania Trust Co now owns 3,948 shares of the asset manager’s stock worth $361,000 after buying an additional 240 shares during the period. Institutional investors own 88.15% of the company’s stock.
Shares of State Street Corporation (NYSE STT) traded up $0.14 on Tuesday, reaching $90.79. 1,444,800 shares of the company’s stock were exchanged, compared to its average volume of 1,970,941. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. State Street Corporation has a 1 year low of $74.45 and a 1 year high of $99.99. The company has a market capitalization of $33,616.35, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.55 and a beta of 1.36.
State Street Corporation (NYSE:STT) last announced its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share 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 firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. research analysts forecast that State Street Corporation will post 6.25 EPS for the current year.
In other news, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total value of $296,448.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew Erickson sold 353 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total transaction of $32,832.53. Following the completion of the sale, the insider now directly owns 21,170 shares in the company, valued at approximately $1,969,021.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,814 shares of company stock worth $2,668,773. Insiders own 0.71% of the company’s stock.
Several equities research analysts have recently commented on the stock. ValuEngine cut shares of State Street Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered shares of State Street Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Wells Fargo & Company started coverage on shares of State Street Corporation in a research note on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price objective on the stock. Barclays PLC lifted their price objective on shares of State Street Corporation from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $102.00 price objective (up previously from $88.00) on shares of State Street Corporation in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. State Street Corporation currently has a consensus rating of “Hold” and a consensus price target of $97.07.
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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