State Street Corp. (STT) Stake Held by Utah Retirement Systems
Utah Retirement Systems maintained its position in State Street Corp. (NYSE:STT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,114 shares of the company’s stock at the end of the third quarter. Utah Retirement Systems’ holdings in State Street Corp. were worth $5,021,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Boston Research & Management Inc. raised its position in State Street Corp. by 2.2% in the third quarter. Boston Research & Management Inc. now owns 34,656 shares of the company’s stock valued at $2,413,000 after buying an additional 740 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in State Street Corp. by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 8,716 shares of the company’s stock valued at $607,000 after buying an additional 275 shares in the last quarter. ARGA Investment Management LP purchased a new position in State Street Corp. during the third quarter valued at approximately $2,261,000. Blue Rock Advisors LLC purchased a new position in State Street Corp. during the third quarter valued at approximately $514,000. Finally, Sandy Spring Bank raised its position in State Street Corp. by 4.8% in the third quarter. Sandy Spring Bank now owns 37,673 shares of the company’s stock valued at $2,634,000 after buying an additional 1,740 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
State Street Corp. (NYSE:STT) traded up 2.32% on Wednesday, hitting $78.80. 2,335,358 shares of the company were exchanged. State Street Corp. has a 52 week low of $50.60 and a 52 week high of $79.27. The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 16.12 and a beta of 1.32. The stock has a 50 day moving average of $73.23 and a 200 day moving average of $66.13.
State Street Corp. (NYSE:STT) last announced its earnings results on Wednesday, October 26th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.10. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.72 billion. State Street Corp. had a net margin of 19.97% and a return on equity of 11.59%. State Street Corp.’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. Analysts predict that State Street Corp. will post $5.09 EPS for the current fiscal year.
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Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of State Street Corp. from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group AG began coverage on shares of State Street Corp. in a report on Tuesday, November 22nd. They set a “neutral” rating and a $74.00 price target on the stock. Morgan Stanley raised shares of State Street Corp. from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $64.00 to $84.00 in a report on Monday, November 14th. Jefferies Group reaffirmed a “buy” rating and set a $81.00 price target on shares of State Street Corp. in a report on Tuesday, November 1st. Finally, Barclays PLC reaffirmed a “buy” rating and set a $71.00 price target on shares of State Street Corp. in a report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.81.
In related news, EVP Karen C. Keenan sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $70.57, for a total value of $70,570.00. Following the sale, the executive vice president now directly owns 48,547 shares of the company’s stock, valued at $3,425,961.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey N. Carp sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $69.26, for a total transaction of $1,038,900.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.
State Street Corp. Company Profile
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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