State Street Corporation $STT Holdings Raised by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lifted its stake in shares of State Street Corporation (NYSE:STT) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,459 shares of the asset manager’s stock after purchasing an additional 560 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in State Street were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of STT. Capital Analysts LLC raised its stake in shares of State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 274 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 118 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of State Street during the first quarter valued at about $46,000. Wayfinding Financial LLC bought a new stake in shares of State Street during the first quarter valued at about $49,000. Finally, CVA Family Office LLC raised its stake in shares of State Street by 45.8% during the second quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 176 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares of the company’s stock, valued at $4,528,512.24. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STT. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. Bank of America upped their price objective on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a report on Wednesday, July 16th. Evercore ISI upped their price objective on State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Citigroup upped their price objective on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Finally, Truist Financial cut their price objective on State Street from $133.00 to $131.00 and set a “buy” rating for the company in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.92.

State Street Trading Up 0.4%

Shares of NYSE STT opened at $115.70 on Friday. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $119.33. The company has a market cap of $32.82 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.24 and a beta of 1.46. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $114.36 and a 200-day simple moving average of $105.68.

State Street (NYSE:STT) last announced its earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The business had revenue of $13 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the business posted $2.26 earnings per share. State Street’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street 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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.