AMP Capital Investors Ltd trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,918 shares of the asset manager’s stock after selling 1,921 shares during the period. AMP Capital Investors Ltd’s holdings in State Street were worth $11,935,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Engineers Gate Manager LP acquired a new position in shares of State Street during the third quarter valued at $1,199,000. Synovus Financial Corp grew its holdings in State Street by 12.9% during the third quarter. Synovus Financial Corp now owns 8,118 shares of the asset manager’s stock worth $777,000 after acquiring an additional 926 shares during the period. Private Advisor Group LLC grew its holdings in State Street by 177.3% during the third quarter. Private Advisor Group LLC now owns 7,331 shares of the asset manager’s stock worth $718,000 after acquiring an additional 4,687 shares during the period. Invictus RG grew its holdings in State Street by 3,922.4% during the third quarter. Invictus RG now owns 3,057 shares of the asset manager’s stock worth $292,000 after acquiring an additional 2,981 shares during the period. Finally, BB&T Investment Services Inc. grew its holdings in State Street by 25.1% during the third quarter. BB&T Investment Services Inc. now owns 22,745 shares of the asset manager’s stock worth $2,163,000 after acquiring an additional 4,570 shares during the period. 88.10% of the stock is currently owned by institutional investors.
In other State Street news, insider Andrew Erickson sold 354 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction dated 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. Insiders sold a total of 28,724 shares of company stock valued at $2,659,741 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. ValuEngine lowered State Street from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley lifted their target price on State Street from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Royal Bank Of Canada lowered their target price on State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 24th. Finally, Citigroup reaffirmed a “neutral” rating and set a $102.00 target price (up from $88.00) on shares of State Street in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. State Street currently has a consensus rating of “Hold” and a consensus price target of $96.47.
State Street Corporation (NYSE STT) traded up $0.75 during trading hours on Monday, hitting $97.67. The company had a trading volume of 1,263,200 shares, compared to its average volume of 1,964,698. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. State Street Corporation has a fifty-two week low of $74.45 and a fifty-two week high of $99.99. The firm has a market cap of $36,219.62, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35.
State Street (NYSE:STT) last released 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 had a return on equity of 13.03% and a net margin of 20.56%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the company posted $1.35 EPS. State Street’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts anticipate that State Street Corporation will post 6.25 EPS for the current year.
About State Street
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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