Greenleaf Trust reduced its stake in shares of State Street Co. (NYSE:STT – Get Rating) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,333 shares of the asset manager’s stock after selling 4,452 shares during the quarter. Greenleaf Trust’s holdings in State Street were worth $760,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Tcwp LLC acquired a new position in State Street during the 1st quarter valued at $25,000. First Financial Corp IN raised its stake in State Street by 81.7% during the 2nd quarter. First Financial Corp IN now owns 438 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Venture Visionary Partners LLC acquired a new position in State Street during the 2nd quarter valued at $27,000. CNB Bank bought a new stake in State Street in the 2nd quarter valued at $37,000. Finally, Evoke Wealth LLC increased its holdings in State Street by 485.0% in the 2nd quarter. Evoke Wealth LLC now owns 626 shares of the asset manager’s stock valued at $39,000 after buying an additional 519 shares during the period. 89.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on STT shares. Morgan Stanley lowered their price target on shares of State Street from $86.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, October 4th. Barclays lowered their price target on shares of State Street from $102.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. StockNews.com started coverage on shares of State Street in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of State Street from $66.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, November 15th. Finally, Citigroup upped their target price on shares of State Street to $81.00 in a report on Thursday, November 17th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.65.
State Street Stock Up 0.6 %
State Street (NYSE:STT – Get Rating) last announced its quarterly earnings results on Tuesday, October 18th. The asset manager reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.02. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.97 billion. State Street had a net margin of 22.48% and a return on equity of 11.72%. State Street’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company posted $2.00 EPS. As a group, research analysts forecast that State Street Co. will post 7.15 EPS for the current fiscal year.
State Street Company Profile
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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