State Street Corporation $STT Stock Acquired by Calamos Advisors LLC

Calamos Advisors LLC raised its stake in State Street Corporation (NYSE:STT) by 45.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 266,902 shares of the asset manager’s stock after acquiring an additional 83,318 shares during the quarter. Calamos Advisors LLC owned approximately 0.10% of State Street worth $46,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in STT. BlackRock Inc. purchased a new stake in State Street in the 2nd quarter valued at $4,139,389,000. State Street Corp lifted its stake in shares of State Street by 1.2% in the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager’s stock valued at $2,296,098,000 after purchasing an additional 163,362 shares during the last quarter. Regents of The University of California increased its position in shares of State Street by 15.6% during the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after purchasing an additional 1,358,923 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in State Street by 4.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,962,274 shares of the asset manager’s stock valued at $502,402,000 after buying an additional 137,798 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in State Street by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,101,952 shares of the asset manager’s stock worth $392,539,000 after buying an additional 51,754 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

In other news, CEO Ronald O’Hanley sold 14,554 shares of State Street stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the sale, the chief executive officer directly owned 215,905 shares in the company, valued at approximately $35,537,963. The trade was a 6.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $168.63, for a total transaction of $1,197,104.37. Following the transaction, the executive vice president owned 42,695 shares of the company’s stock, valued at approximately $7,199,657.85. This represents a 14.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STT has been the topic of several research reports. Keefe, Bruyette & Woods increased their target price on State Street from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. The Goldman Sachs Group upped their price target on shares of State Street from $211.00 to $215.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Morgan Stanley raised their target price on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Argus increased their price target on State Street from $168.00 to $212.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Evercore increased their price target on State Street from $185.00 to $200.00 in a report on Wednesday, October 28th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.97.

State Street Stock Up 0.3%

Shares of State Street stock traded up $0.46 on Friday, hitting $165.69. 1,201,271 shares of the company traded hands, compared to its average volume of 2,210,421. The company has a market cap of $45.08 billion, a PE ratio of 13.53, a PEG ratio of 0.78 and a beta of 1.38. The company has a 50-day moving average price of $177.88 and a 200 day moving average price of $159.67. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.02. State Street Corporation has a 12-month low of $111.63 and a 12-month high of $195.93.

State Street (NYSE:STT) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.01. State Street had a return on equity of 16.11% and a net margin of 15.81%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the company posted $2.78 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict that State Street Corporation will post 13.78 earnings per share for the current year.

State Street Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792 as Union Bank, it has a long history serving institutional clients and is among the oldest financial institutions in the United States.

The company provides investment servicing, including custody, fund administration, accounting, and related middle- and back-office services. Its clients include asset managers, pension funds, insurers, and other financial institutions.

Through State Street Investment Management, the company also offers investment management services and investment products, including the SPDR family of exchange-traded funds.