Rathbones Group PLC Has $5.71 Million Stake in State Street Corporation $STT

Rathbones Group PLC lowered its stake in shares of State Street Corporation (NYSE:STT) by 2.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 53,683 shares of the asset manager’s stock after selling 1,581 shares during the quarter. Rathbones Group PLC’s holdings in State Street were worth $5,709,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Harbour Investments Inc. grew its holdings in shares of State Street by 11.7% in the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after buying an additional 106 shares during the period. McAdam LLC raised its stake in State Street by 1.7% during the 2nd quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after buying an additional 111 shares during the period. Meeder Advisory Services Inc. lifted its holdings in State Street by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager’s stock worth $515,000 after acquiring an additional 114 shares in the last quarter. Larson Financial Group LLC lifted its holdings in State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after acquiring an additional 118 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in State Street by 5.9% in the first quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager’s stock valued at $201,000 after acquiring an additional 126 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction dated 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 owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

State Street Stock Performance

Shares of STT stock opened at $118.23 on Monday. The company’s fifty day simple moving average is $114.54 and its 200-day simple moving average is $107.25. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The firm has a market cap of $33.02 billion, a PE ratio of 12.51, a P/E/G ratio of 1.24 and a beta of 1.47. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $119.33.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, beating 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 $13 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on STT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Evercore ISI increased their target price on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. BMO Capital Markets began coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price target on the stock. Morgan Stanley upped their price target on shares of State Street from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Wells Fargo & Company raised their price objective on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Two 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and a consensus target price of $125.92.

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.