Hantz Financial Services Inc. Grows Stake in State Street Corporation $STT

Hantz Financial Services Inc. increased its stake in State Street Corporation (NYSE:STT) by 1,650.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 735 shares of the asset manager’s stock after acquiring an additional 693 shares during the period. Hantz Financial Services Inc.’s holdings in State Street were worth $78,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STT. Brighton Jones LLC purchased a new position in State Street in the fourth quarter worth about $296,000. Principal Financial Group Inc. grew its position in State Street by 1.6% in the first quarter. Principal Financial Group Inc. now owns 339,406 shares of the asset manager’s stock worth $30,387,000 after acquiring an additional 5,242 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in State Street by 29.0% in the first quarter. OneDigital Investment Advisors LLC now owns 4,203 shares of the asset manager’s stock worth $376,000 after acquiring an additional 944 shares in the last quarter. Wayfinding Financial LLC purchased a new position in State Street in the first quarter worth about $49,000. Finally, Bank of New York Mellon Corp grew its position in State Street by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 2,186,569 shares of the asset manager’s stock worth $195,764,000 after acquiring an additional 123,259 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.5%

Shares of NYSE STT opened at $116.12 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.24 and a beta of 1.46. The stock has a 50 day moving average price of $114.40 and a 200 day moving average price of $106.53. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $119.33.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The firm had revenue of $13 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.State Street’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. Sell-side analysts expect that State Street Corporation will post 9.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

STT has been the subject of several recent research reports. Cfra Research upgraded State Street from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, July 15th. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Cowen restated a “buy” rating on shares of State Street in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Finally, TD Cowen started coverage on State Street in a research report on Thursday, September 25th. They set a “buy” rating for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.92.

Insider Activity

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the sale, the executive vice president owned 38,626 shares in the company, valued at approximately $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

About State Street

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.