4,108 Shares in State Street Corporation $STT Acquired by Founders Financial Securities LLC

Founders Financial Securities LLC purchased a new position in shares of State Street Corporation (NYSE:STT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,108 shares of the asset manager’s stock, valued at approximately $717,000.

Other hedge funds also recently made changes to their positions in the company. Western Wealth Management LLC grew its position in State Street by 3.1% during the first quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock valued at $253,000 after buying an additional 60 shares during the period. apricus wealth LLC grew its holdings in State Street by 0.3% during the third quarter. apricus wealth LLC now owns 23,155 shares of the asset manager’s stock valued at $4,043,000 after purchasing an additional 60 shares during the period. Genesee Capital Advisors LLC increased its position in State Street by 1.2% in the third quarter. Genesee Capital Advisors LLC now owns 5,601 shares of the asset manager’s stock worth $978,000 after buying an additional 68 shares during the last quarter. SYM FINANCIAL Corp raised its stake in shares of State Street by 2.6% in the third quarter. SYM FINANCIAL Corp now owns 2,909 shares of the asset manager’s stock valued at $508,000 after buying an additional 73 shares during the period. Finally, Community Financial Services Group LLC lifted its position in shares of State Street by 40.7% during the 3rd quarter. Community Financial Services Group LLC now owns 304 shares of the asset manager’s stock valued at $53,000 after buying an additional 88 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings cut State Street from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, October 6th. TD Cowen assumed coverage on shares of State Street in a report on Thursday, October 8th. They set a “buy” rating and a $205.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on State Street from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. BMO Capital Markets decreased their price objective on State Street from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Finally, Wells Fargo & Company upped their price target on State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, State Street has a consensus rating of “Moderate Buy” and an average target price of $190.03.

Trending Headlines about State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: JPMorgan raised its price target for State Street from $187.50 to $192.50, implying meaningful potential upside from recent trading levels. However, the firm maintained a “neutral” rating, limiting the bullish impact. JPMorgan analyst action
• Neutral Sentiment: Barclays reiterated a “hold” view on STT. The lack of a positive rating change suggests analysts remain cautious despite State Street’s recent earnings beat and year-over-year revenue growth. Barclays hold rating
• Neutral Sentiment: State Street Global Advisors and affiliated entities reported changes to, or exits from, substantial holdings in several Australian-listed companies, including Deterra Royalties, Sims, Greatland Resources, Pantoro Gold, and Downer EDI. These portfolio disclosures appear routine and have limited direct implications for STT’s earnings.
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of State Street investors. The announcement does not establish wrongdoing, but the possibility of litigation adds a reputational and legal overhang to the shares. Pomerantz investor investigation
• Negative Sentiment: Executive Vice President W. Bradford Hu sold 7,099 shares worth approximately $1.2 million, reducing his position by 14.26%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than discretionary insider selling, but it may still weigh modestly on sentiment. State Street insider sale

State Street Stock Performance

Shares of STT opened at $169.63 on Friday. State Street Corporation has a 12-month low of $111.63 and a 12-month high of $195.93. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.02. The company has a market cap of $46.15 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. The stock has a 50-day moving average price of $180.18 and a 200-day moving average price of $158.73.

State Street (NYSE:STT) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.01. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.11%. State Street’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.78 earnings per share. As a group, equities analysts forecast that State Street Corporation will post 13.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP W. Hu sold 7,099 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $168.63, for a total value of $1,197,104.37. Following the transaction, the executive vice president owned 42,695 shares of the company’s stock, valued at $7,199,657.85. This represents a 14.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald O’Hanley sold 14,554 shares of the firm’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the sale, the chief executive officer owned 215,905 shares in the company, valued at approximately $35,537,963. This trade represents a 6.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is owned by insiders.

State Street Company Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.