Los Angeles Capital Management & Equity Research Inc. lessened its position in shares of State Street Corp (NYSE:STT) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,865 shares of the asset manager’s stock after selling 18,900 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.06% of State Street worth $17,834,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC grew its stake in State Street by 3,604.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock worth $103,000 after buying an additional 28,833 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in State Street in the 2nd quarter worth approximately $109,000. Patriot Financial Group Insurance Agency LLC grew its stake in State Street by 1,855.1% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,349 shares of the asset manager’s stock worth $113,000 after buying an additional 1,280 shares in the last quarter. Delta Asset Management LLC TN purchased a new position in State Street in the 2nd quarter worth approximately $142,000. Finally, Sageworth Trust Co grew its stake in State Street by 1,151.7% in the 3rd quarter. Sageworth Trust Co now owns 1,815 shares of the asset manager’s stock worth $152,000 after buying an additional 1,670 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.
In other State Street news, Director Saint-Aignan Patrick De acquired 500 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was bought at an average price of $68.62 per share, with a total value of $34,310.00. Following the purchase, the director now owns 25,138 shares of the company’s stock, valued at $1,724,969.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff D. Conway sold 343 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $83.16, for a total transaction of $28,523.88. The disclosure for this sale can be found here. Insiders sold a total of 26,954 shares of company stock valued at $2,237,777 in the last ninety days. 0.40% of the stock is owned by corporate insiders.
STT has been the subject of a number of research reports. Barclays cut their price target on shares of State Street from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 22nd. Bank of America cut their price target on shares of State Street from $104.00 to $97.00 and set a “neutral” rating for the company in a research note on Wednesday, July 25th. UBS Group boosted their price target on shares of State Street from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. ValuEngine raised shares of State Street from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, Sandler O’Neill reissued a “hold” rating on shares of State Street in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. State Street presently has an average rating of “Hold” and an average target price of $103.07.
Shares of State Street stock opened at $72.25 on Friday. State Street Corp has a 52-week low of $65.81 and a 52-week high of $114.27. The firm has a market capitalization of $28.08 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50.
State Street (NYSE:STT) last announced its quarterly earnings data on Friday, October 19th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.02). State Street had a net margin of 19.90% and a return on equity of 14.99%. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the company posted $1.71 EPS. State Street’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that State Street Corp will post 7.42 EPS for the current year.
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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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
Further Reading: Earnings Per Share
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