Tredje AP fonden Has $6.37 Million Holdings in State Street Corporation (STT)
Tredje AP fonden raised its stake in shares of State Street Corporation (NYSE:STT) by 22.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,345 shares of the asset manager’s stock after buying an additional 12,090 shares during the quarter. Tredje AP fonden’s holdings in State Street were worth $6,366,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in STT. Harbour Capital Advisors LLC grew its holdings in State Street by 8,873.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 16,421 shares of the asset manager’s stock valued at $183,000 after buying an additional 16,238 shares during the last quarter. Eagle Global Advisors LLC acquired a new stake in State Street during the 2nd quarter valued at $203,000. Klingenstein Fields & Co. LLC grew its holdings in State Street by 0.9% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 2,687 shares of the asset manager’s stock valued at $241,000 after buying an additional 25 shares during the last quarter. Stonebridge Capital Management Inc. grew its holdings in State Street by 6.1% during the 2nd quarter. Stonebridge Capital Management Inc. now owns 37,618 shares of the asset manager’s stock valued at $3,375,000 after buying an additional 2,150 shares during the last quarter. Finally, CAPROCK Group Inc. boosted its holdings in shares of State Street by 12.7% during the second quarter. CAPROCK Group Inc. now owns 4,114 shares of the asset manager’s stock worth $371,000 after purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.
Shares of State Street Corporation (NYSE:STT) traded up $0.13 on Friday, hitting $95.48. The company had a trading volume of 1,707,688 shares, compared to its average volume of 1,964,722. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. The stock has a market cap of $35,360.00, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.59 and a beta of 1.35. State Street Corporation has a twelve month low of $74.45 and a twelve month high of $99.99.
State Street (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. State Street had a return on equity of 13.03% and a net margin of 20.56%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. equities research analysts forecast that State Street Corporation will post 6.25 EPS for the current year.
Several research firms have recently issued reports on STT. Wells Fargo & Company began coverage on State Street in a report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price objective on the stock. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Citigroup restated a “neutral” rating and set a $102.00 price objective (up previously from $88.00) on shares of State Street in a report on Monday, October 9th. ValuEngine cut State Street from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Jefferies Group restated a “hold” rating and set a $100.00 price objective on shares of State Street in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. State Street currently has an average rating of “Hold” and a consensus price target of $96.47.
In related news, insider Andrew Erickson sold 354 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total value of $32,568.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. Insiders sold a total of 28,724 shares of company stock worth $2,659,741 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.
About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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