Greenwich Wealth Management LLC Boosts Stake in State Street Corporation $STT

Greenwich Wealth Management LLC raised its stake in shares of State Street Corporation (NYSE:STT) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,920 shares of the asset manager’s stock after buying an additional 867 shares during the quarter. Greenwich Wealth Management LLC’s holdings in State Street were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Analysts LLC boosted its stake in shares of State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 274 shares during the last quarter. AlphaCore Capital LLC lifted its holdings in State Street by 103.5% in the 2nd quarter. AlphaCore Capital LLC now owns 468 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 238 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of State Street during the 2nd quarter worth about $52,000. Zions Bancorporation National Association UT purchased a new stake in shares of State Street during the first quarter worth about $46,000. Finally, CVA Family Office LLC raised its position in shares of State Street by 45.8% in the second quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock valued at $60,000 after buying an additional 176 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods raised their price objective on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Truist Financial lowered their price objective on State Street from $133.00 to $131.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company increased their target price on State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Citigroup lifted their price target on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average target price of $125.92.

State Street Stock Up 1.2%

Shares of NYSE STT opened at $119.02 on Friday. The stock has a fifty day moving average price of $115.75 and a 200 day moving average price of $109.83. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.03. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $122.69. The company has a market cap of $33.24 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.24 and a beta of 1.47.

State Street (NYSE:STT) last issued its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. Research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the sale, the executive vice president owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

State Street Company 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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.