SG Americas Securities LLC Purchases 20,273 Shares of State Street Corporation $STT

SG Americas Securities LLC increased its position in shares of State Street Corporation (NYSE:STT) by 19.9% during the second quarter, HoldingsChannel.com reports. The firm owned 122,238 shares of the asset manager’s stock after buying an additional 20,273 shares during the period. SG Americas Securities LLC’s holdings in State Street were worth $12,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Analysts LLC increased its holdings in State Street by 3,914.3% in the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after buying an additional 274 shares during the period. Larson Financial Group LLC boosted its position in shares of State Street by 40.8% during the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 118 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in State Street in the first quarter valued at about $46,000. CVA Family Office LLC raised its position in State Street by 45.8% in the second quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock worth $60,000 after purchasing an additional 176 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in State Street during the first quarter valued at approximately $77,000. 87.44% of the stock is owned by institutional investors.

State Street Stock Down 1.3%

Shares of NYSE:STT opened at $116.75 on Friday. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $122.69. The firm has a market cap of $32.61 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.24 and a beta of 1.47. 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 company’s 50-day moving average price is $115.09 and its two-hundred day moving average price is $108.21.

State Street (NYSE:STT) last released its quarterly 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. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. State Street’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. As a group, research analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on STT. Cowen restated a “buy” rating on shares of State Street in a research report on Tuesday, October 21st. The Goldman Sachs Group boosted their target price on shares of State Street from $109.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Truist Financial lowered their target price on shares of State Street from $133.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Morgan Stanley lifted their price target on shares of State Street from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Evercore ISI raised their price objective on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and a consensus target price of $125.92.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the business’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 owned 38,626 shares in the company, valued at $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.

About State Street

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.