Oppenheimer & Co. Inc. decreased its position in State Street Corp (NYSE:STT) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,417 shares of the asset manager’s stock after selling 250 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in State Street were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Trexquant Investment LP raised its holdings in State Street by 44.7% in the second quarter. Trexquant Investment LP now owns 59,084 shares of the asset manager’s stock worth $3,312,000 after purchasing an additional 18,256 shares in the last quarter. Asahi Life Asset Management CO. LTD. bought a new position in shares of State Street during the second quarter valued at $318,000. Rockefeller Capital Management L.P. increased its holdings in shares of State Street by 22.0% during the second quarter. Rockefeller Capital Management L.P. now owns 3,578 shares of the asset manager’s stock valued at $201,000 after acquiring an additional 645 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of State Street by 0.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 61,535 shares of the asset manager’s stock valued at $3,450,000 after acquiring an additional 400 shares in the last quarter. Finally, Becker Capital Management Inc. increased its holdings in shares of State Street by 0.5% during the second quarter. Becker Capital Management Inc. now owns 677,408 shares of the asset manager’s stock valued at $37,975,000 after acquiring an additional 3,495 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

In related news, EVP Jeffrey N. Carp sold 25,000 shares of State Street stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $51.72, for a total value of $1,293,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hanley Ronald P. O acquired 7,000 shares of State Street stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $50.43 per share, with a total value of $353,010.00. Following the completion of the acquisition, the chief executive officer now directly owns 127,235 shares in the company, valued at approximately $6,416,461.05. The disclosure for this purchase can be found here. Insiders purchased a total of 11,000 shares of company stock valued at $577,375 over the last quarter. 0.40% of the stock is owned by corporate insiders.

Several equities analysts have recently weighed in on STT shares. Zacks Investment Research downgraded State Street from a “hold” rating to a “sell” rating and set a $59.00 price target for the company. in a report on Tuesday, June 4th. UBS Group raised their price target on State Street from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Raymond James raised their price target on State Street from $68.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, July 22nd. Morgan Stanley downgraded State Street from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $69.00 to $55.00 in a report on Monday, July 8th. Finally, Royal Bank of Canada reduced their price target on State Street from $80.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, June 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. State Street currently has an average rating of “Hold” and an average target price of $67.75.

NYSE STT traded up $0.76 during trading hours on Friday, hitting $61.03. The company’s stock had a trading volume of 99,761 shares, compared to its average volume of 2,969,078. State Street Corp has a 12 month low of $48.62 and a 12 month high of $90.20. The company’s 50 day simple moving average is $53.28 and its two-hundred day simple moving average is $60.59. The company has a market cap of $22.46 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.48 and a quick ratio of 0.48.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, July 19th. The asset manager reported $1.45 EPS for the quarter, topping the consensus estimate of $1.40 by $0.05. State Street had a return on equity of 12.13% and a net margin of 17.66%. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the company earned $2.05 EPS. State Street’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts predict that State Street Corp will post 5.72 earnings per share for the current fiscal year.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level 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; 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.

See Also: How can you know how many shares are floating?

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Corp (NYSE:STT).

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.