John G Ullman & Associates Inc. Has $4.57 Million Stock Holdings in State Street Corporation $STT

John G Ullman & Associates Inc. trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,993 shares of the asset manager’s stock after selling 483 shares during the period. John G Ullman & Associates Inc.’s holdings in State Street were worth $4,572,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of State Street during the 2nd quarter worth about $42,281,000. Angeles Wealth Management LLC acquired a new position in shares of State Street during the 2nd quarter worth about $227,000. Applied Finance Capital Management LLC lifted its stake in State Street by 4.2% in the 2nd quarter. Applied Finance Capital Management LLC now owns 9,723 shares of the asset manager’s stock valued at $1,034,000 after purchasing an additional 395 shares during the last quarter. Nordea Investment Management AB lifted its stake in State Street by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock valued at $241,862,000 after purchasing an additional 49,475 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in State Street by 3,614.8% in the 2nd quarter. Activest Wealth Management now owns 1,003 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 976 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 990 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total transaction of $108,197.10. Following the transaction, the executive vice president directly owned 41,332 shares of the company’s stock, valued at approximately $4,517,174.28. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on STT shares. Citigroup upgraded shares of State Street from a “neutral” rating to a “buy” rating and raised their target price for the company from $115.00 to $130.00 in a research note on Friday, September 5th. Bank of America raised their target price on shares of State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research note on Wednesday, July 16th. Truist Financial raised their target price on shares of State Street from $125.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Wells Fargo & Company raised their target price on shares of State Street from $113.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Finally, BMO Capital Markets initiated coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.83.

State Street Trading Down 1.5%

Shares of STT stock opened at $111.27 on Friday. The firm has a 50 day moving average price of $113.60 and a two-hundred day moving average price of $103.13. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $31.57 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $118.24.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.21. The firm had revenue of $13 billion during the quarter, compared to the consensus estimate of $3.43 billion. State Street had a net margin of 12.59% and a return on equity of 12.96%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. As a group, analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street 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.