State Street Corporation $STT Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. lifted its position in State Street Corporation (NYSE:STT) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012 shares of the asset manager’s stock after acquiring an additional 106 shares during the period. Harbour Investments Inc.’s holdings in State Street were worth $108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in STT. Eastern Bank boosted its stake in State Street by 6,967.4% during the first quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock worth $267,646,000 after buying an additional 2,947,153 shares during the last quarter. Nuveen LLC acquired a new position in State Street during the first quarter worth $93,016,000. Invesco Ltd. boosted its stake in State Street by 9.0% during the first quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock worth $732,775,000 after buying an additional 674,120 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in State Street during the first quarter worth $42,504,000. Finally, Allianz Asset Management GmbH boosted its stake in State Street by 404.7% during the first quarter. Allianz Asset Management GmbH now owns 586,052 shares of the asset manager’s stock worth $52,469,000 after buying an additional 469,936 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent research reports. Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, July 15th. TD Cowen started coverage on State Street in a research report on Thursday, September 25th. They set a “buy” rating for the company. Evercore ISI boosted their price objective on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial lowered their price objective on State Street from $133.00 to $131.00 and set a “buy” rating for the company in a research report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

State Street Stock Up 1.3%

State Street stock opened at $114.65 on Friday. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $118.24. The stock has a 50 day moving average of $113.82 and a two-hundred day moving average of $103.95. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $32.53 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.20 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The company had revenue of $13 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the firm earned $2.26 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

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.