State Street Corporation (STT) Shares Bought by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. lifted its holdings in shares of State Street Corporation (NYSE:STT) by 103.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,169 shares of the asset manager’s stock after acquiring an additional 39,278 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in State Street Corporation were worth $7,373,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of STT. Parallel Advisors LLC increased its position in shares of State Street Corporation by 18.0% during the second quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 172 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of State Street Corporation during the second quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. increased its position in shares of State Street Corporation by 15.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after acquiring an additional 168 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of State Street Corporation by 5.5% during the second quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 75 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of State Street Corporation during the first quarter valued at approximately $155,000. 88.15% of the stock is owned by institutional investors.
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A number of brokerages recently commented on STT. ValuEngine downgraded State Street Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded State Street Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Morgan Stanley increased their price objective on State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Royal Bank Of Canada reduced their price objective on State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating for the company in a report on Tuesday, October 24th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $102.00 price objective (up from $88.00) on shares of State Street Corporation in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $97.07.
State Street Corporation (STT) traded down $0.12 during trading on Monday, hitting $90.65. The stock had a trading volume of 948,600 shares, compared to its average volume of 1,973,355. State Street Corporation has a 52-week low of $74.45 and a 52-week high of $99.99. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $33,616.35, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.55 and a beta of 1.36.
State Street Corporation (NYSE:STT) last posted its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $1.35 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. research analysts forecast that State Street Corporation will post 6.25 earnings per share for the current year.
In related news, Chairman Joseph L. Hooley sold 25,000 shares of State Street Corporation stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total transaction of $2,315,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hannah M. Grove sold 3,200 shares of State Street Corporation stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. Insiders sold 28,814 shares of company stock valued at $2,668,773 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.
State Street Corporation Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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