3,632 State Street Corporation $STT Shares Sold by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC reduced its holdings in shares of State Street Corporation (NYSE:STT) by 37.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,133 shares of the asset manager’s stock after selling 3,632 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in State Street were worth $1,071,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in State Street in the 2nd quarter valued at $4,139,389,000. Legal & General Group Plc acquired a new position in shares of State Street during the 2nd quarter worth about $330,849,000. Bank of New York Mellon Corp acquired a new position in shares of State Street during the 2nd quarter worth about $301,393,000. Bank of America Corp DE acquired a new position in shares of State Street during the 2nd quarter worth about $285,936,000. Finally, Regents of The University of California grew its holdings in shares of State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after acquiring an additional 1,358,923 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP W. Hu sold 9,758 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $184.52, for a total transaction of $1,800,546.16. Following the transaction, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald O’Hanley sold 14,553 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total value of $2,680,226.01. Following the completion of the sale, the chief executive officer owned 240,959 shares in the company, valued at $44,377,419.03. This represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent research reports. TD Cowen initiated coverage on State Street in a research report on Thursday, October 8th. They issued a “buy” rating and a $205.00 target price on the stock. Citigroup reduced their price target on State Street from $212.00 to $190.00 and set a “buy” rating for the company in a research report on Friday. UBS Group set a $176.00 price target on State Street in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price target on State Street from $187.00 to $187.50 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Finally, BMO Capital Markets lowered their price target on State Street from $200.00 to $185.00 and set an “outperform” rating on the stock in a research report on Monday. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $189.74.

State Street Stock Performance

Shares of State Street stock traded down $0.51 during trading on Monday, hitting $165.21. 2,460,753 shares of the stock were exchanged, compared to its average volume of 2,142,555. The stock has a market capitalization of $45.38 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. The company has a fifty day moving average price of $184.20 and a 200-day moving average price of $169.89. State Street Corporation has a 1-year low of $111.63 and a 1-year high of $195.93. The company has a current ratio of 0.57, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07.

State Street (NYSE:STT) last issued its earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.01. State Street had a net margin of 15.81% and a return on equity of 16.36%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the firm earned $2.78 EPS. State Street’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that State Street Corporation will post 13.77 EPS for the current fiscal year.

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.