State Street Corporation (STT) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its position in shares of State Street Corporation (NYSE:STT) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,405,963 shares of the asset manager’s stock after selling 36,211 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.65% of State Street Corporation worth $229,857,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings 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 acquired a new position in shares of State Street Corporation during the second quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. raised its holdings 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 raised its holdings 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, Sabal Trust CO acquired a new position in shares of State Street Corporation during the third quarter valued at approximately $201,000. 88.15% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on STT. Zacks Investment Research cut State Street Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $102.00 price target (up previously from $88.00) on shares of State Street Corporation in a report on Monday, October 9th. Keefe, Bruyette & Woods set a $93.00 price target on State Street Corporation and gave the company a “hold” rating in a report on Monday, August 28th. Barclays PLC increased their price target on State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Morgan Stanley increased their price target 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. One 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. The company currently has an average rating of “Hold” and a consensus price target of $96.47.
Shares of State Street Corporation (NYSE:STT) traded up $0.52 during trading on Wednesday, reaching $91.31. The company had a trading volume of 1,991,600 shares, compared to its average volume of 1,971,035. The stock has a market capitalization of $33,668.27, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36. 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.
State Street Corporation (NYSE:STT) last issued its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 earnings per share. equities research analysts predict that State Street Corporation will post 6.25 earnings per share for the current fiscal year.
In other news, insider Hannah M. Grove sold 3,200 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total transaction of $296,448.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
About State Street Corporation
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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