3,683 Shares of State Street Corporation $STT Bought by StoneX Group Inc.

StoneX Group Inc. purchased a new position in shares of State Street Corporation (NYSE:STT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,683 shares of the asset manager’s stock, valued at approximately $675,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of State Street in the 2nd quarter valued at about $4,139,389,000. Legal & General Group Plc acquired a new position in shares of State Street during the second quarter worth about $330,849,000. Bank of New York Mellon Corp purchased a new stake in shares of State Street during the second quarter worth approximately $301,393,000. Bank of America Corp DE purchased a new stake in shares of State Street during the second quarter worth approximately $285,936,000. Finally, Regents of The University of California increased its stake in shares of State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after buying an additional 1,358,923 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, CEO Hanley Ronald P. O sold 14,554 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the sale, the chief executive officer owned 215,905 shares of the company’s stock, valued at approximately $35,537,963. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $168.63, for a total transaction of $1,197,104.37. Following the sale, the executive vice president owned 42,695 shares of the company’s stock, valued at $7,199,657.85. This represents a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.27% of the company’s stock.

State Street Trading Up 0.4%

NYSE:STT opened at $171.61 on Wednesday. The stock has a 50-day simple moving average of $177.04 and a 200-day simple moving average of $160.10. The stock has a market cap of $46.69 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.79 and a beta of 1.38. State Street Corporation has a 1 year low of $111.63 and a 1 year high of $195.93. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.59 and a current ratio of 0.59.

State Street (NYSE:STT) last released its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.01. State Street had a return on equity of 16.11% and a net margin of 15.81%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the business posted $2.78 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts anticipate that State Street Corporation will post 13.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STT. Seaport Research Partners lifted their price target on shares of State Street from $209.00 to $214.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Barclays boosted their price target on shares of State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods increased their price objective on shares of State Street from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Argus raised their price objective on shares of State Street from $168.00 to $212.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Truist Financial reduced their price objective on shares of State Street from $190.00 to $171.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and a consensus price target of $193.97.

About State Street

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792 as Union Bank, it has a long history serving institutional clients and is among the oldest financial institutions in the United States. The company provides investment servicing, including custody, fund administration, accounting, and related middle- and back-office services. Its clients include asset managers, pension funds, insurers, and other financial institutions. Through State Street Investment Management, the company also offers investment management services and investment products, including the SPDR family of exchange-traded funds.