State Street Corporation $STT Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC raised its holdings in State Street Corporation (NYSE:STT) by 14.4% during the second quarter, according to the company in its most recent filing 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 period. Flagship Harbor Advisors LLC’s holdings in State Street were worth $474,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Capital Analysts LLC raised its position in shares of 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 purchasing an additional 274 shares in the last quarter. Larson Financial Group LLC raised its position in shares of State Street by 40.8% in the 1st 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 acquired a new position in shares of State Street in the 1st quarter valued at approximately $46,000. Wayfinding Financial LLC acquired a new position in shares of State Street in the 1st quarter valued at approximately $49,000. Finally, CVA Family Office LLC raised its position in shares of State Street by 45.8% in the 2nd 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 owned by institutional investors and hedge funds.

Insider Transactions at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on STT shares. TD Cowen started coverage on State Street in a research report on Thursday, September 25th. They issued a “buy” rating on the stock. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Citigroup boosted their price target on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Cowen reiterated a “buy” rating on shares of State Street in a report on Tuesday, October 21st. Finally, Truist Financial lowered their price target 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 analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $125.92.

State Street Trading Up 0.4%

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 firm has a market capitalization of $32.82 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.24 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.57. The business has a 50 day simple moving average of $114.36 and a 200 day simple moving average of $105.68.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.43 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts predict that State Street Corporation will post 9.68 EPS for the current 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, 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.