Achmea Investment Management B.V. reduced its stake in shares of State Street Corp (NYSE:STT) by 33.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,658 shares of the asset manager’s stock after selling 31,770 shares during the quarter. Achmea Investment Management B.V.’s holdings in State Street were worth $5,246,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in STT. Moneta Group Investment Advisors LLC increased its stake in shares of State Street by 3,604.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock valued at $103,000 after buying an additional 28,833 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in State Street in the second quarter valued at about $109,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in State Street by 1,855.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,349 shares of the asset manager’s stock valued at $113,000 after acquiring an additional 1,280 shares during the last quarter. Delta Asset Management LLC TN bought a new position in State Street in the second quarter valued at about $142,000. Finally, Sageworth Trust Co boosted its holdings in State Street by 1,151.7% in the third quarter. Sageworth Trust Co now owns 1,815 shares of the asset manager’s stock valued at $152,000 after acquiring an additional 1,670 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.
STT has been the topic of several recent research reports. Sandler O’Neill reiterated a “hold” rating on shares of State Street in a report on Friday, July 13th. Royal Bank of Canada restated a “hold” rating and set a $105.00 target price on shares of State Street in a report on Friday, July 20th. Keefe, Bruyette & Woods restated a “buy” rating and set a $100.00 target price on shares of State Street in a report on Monday, July 23rd. Barclays reduced their target price on State Street from $120.00 to $110.00 and set a “$87.02” rating on the stock in a report on Monday, July 23rd. Finally, Credit Suisse Group reduced their target price on State Street from $110.00 to $103.00 and set a “$87.02” rating on the stock in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $103.07.
Shares of STT opened at $72.25 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. State Street Corp has a 1 year low of $65.81 and a 1 year high of $114.27. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 1.05 and a beta of 1.34.
State Street (NYSE:STT) last released its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 EPS for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.02). The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 EPS. As a group, equities analysts predict that State Street Corp will post 7.42 earnings per share for the current year.
In other State Street news, Director Saint-Aignan Patrick De purchased 500 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The shares were bought at an average price of $68.62 per share, with a total value of $34,310.00. Following the completion of the transaction, the director now directly owns 25,138 shares in the company, valued at approximately $1,724,969.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Louis D. Maiuri purchased 740 shares of the company’s stock in a transaction dated Wednesday, October 24th. The shares were acquired at an average cost of $67.60 per share, for a total transaction of $50,024.00. Following the transaction, the executive vice president now owns 45,314 shares of the company’s stock, valued at $3,063,226.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 26,954 shares of company stock worth $2,237,777. 0.40% of the stock is currently owned by insiders.
About State Street
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.
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