Skandinaviska Enskilda Banken AB publ Buys 50,284 Shares of State Street Corporation $STT

Skandinaviska Enskilda Banken AB publ grew its position in State Street Corporation (NYSE:STT) by 25.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,314 shares of the asset manager’s stock after acquiring an additional 50,284 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in State Street were worth $26,406,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in STT. Capital Analysts LLC lifted its holdings in State Street by 3,914.3% during the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 274 shares during the last quarter. AlphaCore Capital LLC raised its position in shares of State Street by 103.5% in the second quarter. AlphaCore Capital LLC now owns 468 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 238 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of State Street in the second quarter valued at about $52,000. Zions Bancorporation National Association UT acquired a new stake in shares of State Street during the 1st quarter worth about $46,000. Finally, CVA Family Office LLC boosted its holdings in shares of State Street by 45.8% during the 2nd quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock worth $60,000 after buying an additional 176 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were 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 approximately $4,528,512.24. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

State Street Trading Up 1.2%

Shares of STT opened at $119.02 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $122.69. The firm has a market cap of $33.24 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.24 and a beta of 1.47. The business’s fifty day moving average is $115.75 and its 200-day moving average is $109.75.

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

Analyst Ratings Changes

STT has been the topic of a number of research reports. Wells Fargo & Company upped their price target 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. Keefe, Bruyette & Woods boosted their price target on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. TD Cowen initiated coverage on State Street in a research note on Thursday, September 25th. They set a “buy” rating on the stock. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and a consensus target price of $125.92.

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.