2,139 Shares in State Street Corporation $STT Acquired by Angeles Wealth Management LLC

Angeles Wealth Management LLC purchased a new position in State Street Corporation (NYSE:STT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,139 shares of the asset manager’s stock, valued at approximately $227,000.

Several other hedge funds have also made changes to their positions in the stock. Applied Finance Capital Management LLC lifted its holdings in shares of State Street by 4.2% in the 2nd quarter. Applied Finance Capital Management LLC now owns 9,723 shares of the asset manager’s stock worth $1,034,000 after purchasing an additional 395 shares during the last quarter. Nordea Investment Management AB raised its stake in State Street by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock valued at $241,862,000 after acquiring an additional 49,475 shares in the last quarter. Activest Wealth Management raised its stake in State Street by 3,614.8% during the 2nd quarter. Activest Wealth Management now owns 1,003 shares of the asset manager’s stock valued at $107,000 after acquiring an additional 976 shares in the last quarter. Bridges Investment Management Inc. raised its stake in State Street by 1.6% during the 2nd quarter. Bridges Investment Management Inc. now owns 32,796 shares of the asset manager’s stock valued at $3,488,000 after acquiring an additional 531 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in State Street by 0.8% during the 2nd quarter. New York State Teachers Retirement System now owns 285,535 shares of the asset manager’s stock valued at $30,364,000 after acquiring an additional 2,202 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STT. Citigroup raised State Street from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $130.00 in a research note on Friday, September 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $162.00 target price on shares of State Street in a research note on Monday, September 29th. Truist Financial lifted their target price on State Street from $125.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Wells Fargo & Company lifted their target price on State Street from $113.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group boosted their price objective on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.83.

State Street Stock Down 1.5%

STT opened at $111.27 on Friday. State Street Corporation has a one year low of $72.81 and a one year high of $118.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.57 and a current ratio of 0.57. The stock’s fifty day moving average is $113.60 and its 200-day moving average is $103.13. The company has a market capitalization of $31.57 billion, a PE ratio of 11.77, a P/E/G ratio of 1.14 and a beta of 1.46.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.21. The company had revenue of $13 billion for the quarter, compared to the consensus estimate of $3.43 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.26 EPS. On average, equities analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total transaction of $108,197.10. Following the sale, the executive vice president directly owned 41,332 shares of the company’s stock, valued at $4,517,174.28. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.