State Street Corporation $STT Shares Purchased by L & S Advisors Inc

L & S Advisors Inc lifted its holdings in shares of State Street Corporation (NYSE:STT) by 60.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,766 shares of the asset manager’s stock after purchasing an additional 29,329 shares during the quarter. L & S Advisors Inc’s holdings in State Street were worth $8,270,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of State Street by 61.9% in the 1st quarter. Assetmark Inc. now owns 934 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 357 shares during the last quarter. Nordea Investment Management AB boosted its holdings in State Street by 2.2% in the second 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position in State Street by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,891,862 shares of the asset manager’s stock valued at $169,378,000 after acquiring an additional 16,926 shares during the period. Inspire Trust Co. N.A. increased its stake in State Street by 25.8% during the first quarter. Inspire Trust Co. N.A. now owns 45,000 shares of the asset manager’s stock worth $4,029,000 after acquiring an additional 9,224 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of State Street by 6.6% in the 1st quarter. LPL Financial LLC now owns 123,407 shares of the asset manager’s stock worth $11,049,000 after purchasing an additional 7,656 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Trading Down 2.3%

STT opened at $118.27 on Friday. The stock has a market capitalization of $33.03 billion, a PE ratio of 12.52, a P/E/G ratio of 1.24 and a beta of 1.47. The firm’s fifty day moving average price is $115.01 and its 200 day moving average price is $107.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.57. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $122.69.

State Street (NYSE:STT) last released 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. State Street had a net margin of 13.14% and a return on equity of 13.37%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

Insider Activity at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the 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 transaction, the executive vice president directly owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on STT shares. The Goldman Sachs Group increased their target price on shares of State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Citigroup upped their price target on shares of State Street from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. TD Cowen assumed coverage on State Street in a research report on Thursday, September 25th. They issued a “buy” rating on the stock. Finally, Evercore ISI upped their target price on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.92.

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.