Macquarie Group Ltd. Sells 17,016 Shares of State Street Corp. (STT)
Macquarie Group Ltd. decreased its position in State Street Corp. (NYSE:STT) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,516 shares of the company’s stock after selling 17,016 shares during the period. Macquarie Group Ltd. owned 0.08% of State Street Corp. worth $16,527,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in STT. Babson Capital Management LLC increased its stake in shares of State Street Corp. by 39.7% in the first quarter. Babson Capital Management LLC now owns 21,461 shares of the company’s stock worth $1,256,000 after buying an additional 6,100 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of State Street Corp. by 3.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,895 shares of the company’s stock worth $575,000 after buying an additional 350 shares in the last quarter. CenturyLink Investment Management Co bought a new stake in shares of State Street Corp. during the second quarter worth about $183,000. DNB Asset Management AS increased its stake in shares of State Street Corp. by 1.5% in the second quarter. DNB Asset Management AS now owns 33,132 shares of the company’s stock worth $1,786,000 after buying an additional 500 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its stake in shares of State Street Corp. by 5.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 102,489 shares of the company’s stock worth $5,526,000 after buying an additional 5,095 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.
State Street Corp. (NYSE:STT) traded down 1.33% on Monday, hitting $77.40. The stock had a trading volume of 865,841 shares. State Street Corp. has a 52-week low of $50.60 and a 52-week high of $79.27. The stock’s 50-day moving average is $73.10 and its 200-day moving average is $65.93. The company has a market cap of $29.86 billion, a P/E ratio of 15.84 and a beta of 1.32.
State Street Corp. (NYSE:STT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.10. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.72 billion. State Street Corp. had a return on equity of 11.59% and a net margin of 19.97%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Analysts expect that State Street Corp. will post $5.09 earnings per share for the current year.
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A number of equities research analysts have weighed in on STT shares. Zacks Investment Research raised State Street Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Tuesday, September 6th. Deutsche Bank AG raised their target price on State Street Corp. from $70.00 to $73.00 and gave the company a “hold” rating in a report on Friday, September 9th. Keefe, Bruyette & Woods raised State Street Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, October 5th. Credit Suisse Group AG started coverage on State Street Corp. in a report on Tuesday, November 22nd. They issued a “neutral” rating and a $74.00 target price on the stock. Finally, Jefferies Group reaffirmed a “buy” rating on shares of State Street Corp. in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. State Street Corp. currently has an average rating of “Hold” and a consensus target price of $72.81.
In other news, EVP Karen C. Keenan sold 1,000 shares of State Street Corp. stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $70.57, for a total transaction of $70,570.00. Following the sale, the executive vice president now owns 48,547 shares of the company’s stock, valued at approximately $3,425,961.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey N. Carp sold 2,926 shares of State Street Corp. stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $77.38, for a total value of $226,413.88. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
About State Street Corp.
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
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