82,216 Shares in State Street Corporation $STT Bought by Thames Capital Management LLC

Thames Capital Management LLC acquired a new position in shares of State Street Corporation (NYSE:STT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 82,216 shares of the asset manager’s stock, valued at approximately $8,743,000. State Street comprises about 2.0% of Thames Capital Management LLC’s investment portfolio, making the stock its 22nd largest position.

Several other hedge funds have also made changes to their positions in STT. Capital Analysts LLC grew its holdings 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 worth $25,000 after buying an additional 274 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 118 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of State Street in the first quarter valued at approximately $46,000. CVA Family Office LLC raised its stake in shares of State Street by 45.8% during the second quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock worth $60,000 after purchasing an additional 176 shares during the last quarter. Finally, Sarver Vrooman Wealth Advisors purchased a new stake in shares of State Street during the second quarter worth approximately $77,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STT. Wells Fargo & Company boosted their price objective on shares of State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Truist Financial dropped their price target on shares of State Street from $133.00 to $131.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. BMO Capital Markets began coverage on State Street in a report on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price objective on the stock. Evercore ISI raised their price target on State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, The Goldman Sachs Group upped their price objective on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Moderate Buy” and a consensus target price of $125.92.

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the sale, the executive vice president directly owned 38,626 shares in the company, valued at $4,528,512.24. This 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 currently owned by company insiders.

State Street Price Performance

Shares of NYSE STT opened at $116.75 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.03. The stock has a market cap of $32.61 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.24 and a beta of 1.47. The company’s 50-day moving average price is $115.09 and its 200 day moving average price is $108.35. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $122.69.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the company posted $2.26 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

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, 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.