Eqis Capital Management Inc. acquired a new position in shares of State Street Corporation (NYSE:STT) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,063 shares of the asset manager’s stock, valued at approximately $1,057,000.
Other large investors have also modified their holdings of the company. Parallel Advisors LLC grew its position in State Street Corporation by 18.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 172 shares in the last quarter. Penserra Capital Management LLC acquired a new position in State Street Corporation in the 2nd quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. grew its position in State Street Corporation by 15.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after acquiring an additional 168 shares in the last quarter. NEXT Financial Group Inc grew its position in State Street Corporation by 5.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 75 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its position in State Street Corporation by 2,677.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 964 shares in the last quarter. 87.81% of the stock is owned by hedge funds and other institutional investors.
State Street Corporation (NYSE STT) traded up 0.28% during mid-day trading on Monday, reaching $93.77. The company’s stock had a trading volume of 179,940 shares. The company has a market capitalization of $35.07 billion, a PE ratio of 17.31 and a beta of 1.31. The firm has a 50 day moving average price of $96.26 and a 200-day moving average price of $89.87. State Street Corporation has a 1-year low of $69.49 and a 1-year high of $99.99.
State Street Corporation (NYSE:STT) last released its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.35 EPS. On average, equities analysts predict that State Street Corporation will post $6.26 EPS for the current fiscal year.
STT has been the subject of several recent research reports. Buckingham Research reiterated a “buy” rating and issued a $107.00 price objective (up previously from $94.00) on shares of State Street Corporation in a research note on Monday, July 10th. Zacks Investment Research upgraded State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods restated an “underweight” rating on shares of State Street Corporation in a research note on Thursday, July 13th. Barclays PLC boosted their target price on State Street Corporation from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, Wells Fargo & Company began coverage on State Street Corporation in a research note on Wednesday, August 9th. They set an “outperform” rating and a $115.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $97.07.
In other news, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $92.55, for a total value of $296,160.00. Following the transaction, the insider now directly owns 39,896 shares of the company’s stock, valued at approximately $3,692,374.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Erickson sold 353 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total value of $32,832.53. Following the transaction, the insider now directly owns 21,170 shares in the company, valued at approximately $1,969,021.70. The disclosure for this sale can be found here. Insiders sold a total of 3,814 shares of company stock worth $353,485 over the last three months. 0.71% of the stock is owned by company insiders.
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About State Street Corporation
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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