Robeco Institutional Asset Management BV Acquires 24646 Shares of State Street Corporation (STT) – Dispatch Tribunal


Robeco Institutional Asset Management B.V. grew its holdings in State Street Corporation (NYSE:STT) by 48.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,979 shares of the asset manager’s stock after purchasing an additional 24,646 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in State Street Corporation were worth $7,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Salem Investment Counselors Inc. boosted its stake in shares of State Street Corporation by 2,677.8% in the first quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 964 shares during the period. Parallel Advisors LLC boosted its stake in shares of State Street Corporation by 18.0% in the second quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 172 shares during the period. Penserra Capital Management LLC purchased a new position in shares of State Street Corporation in the second quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of State Street Corporation by 15.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 168 shares during the period. Finally, NEXT Financial Group Inc boosted its stake in shares of State Street Corporation by 5.5% in the second quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 75 shares during the period. 87.68% of the stock is owned by institutional investors and hedge funds.

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In other news, insider Andrew Erickson sold 353 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total transaction of $32,832.53. Following the completion of the transaction, the insider now directly owns 21,170 shares in the company, valued at approximately $1,969,021.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Hannah M. Grove sold 3,200 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $92.55, for a total value of $296,160.00. Following the transaction, the insider now owns 39,896 shares of the company’s stock, valued at $3,692,374.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,814 shares of company stock valued at $353,485. Company insiders own 0.71% of the company’s stock.

Shares of State Street Corporation (STT) opened at 93.51 on Friday. The firm’s 50-day moving average is $96.26 and its 200-day moving average is $89.87. The firm has a market cap of $34.97 billion, a PE ratio of 17.27 and a beta of 1.31. State Street Corporation has a 12-month low of $69.49 and a 12-month high of $99.99.

State Street Corporation (NYSE:STT) last released its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. State Street Corporation’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS. Equities analysts expect that State Street Corporation will post $6.26 earnings per share for the current fiscal year.

Several research analysts have recently commented on STT shares. Zacks Investment Research lowered shares of State Street Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods set a $93.00 price objective on shares of State Street Corporation and gave the company a “hold” rating in a research note on Monday, August 28th. Buckingham Research reissued 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. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $100.00 price objective on shares of State Street Corporation in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. State Street Corporation presently has a consensus rating of “Hold” and a consensus target price of $97.07.

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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Institutional Ownership by Quarter for State Street Corporation (NYSE:STT)




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