Phoenix Holdings Ltd. boosted its holdings in shares of State Street Corp (NYSE:STT) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,657 shares of the asset manager’s stock after acquiring an additional 1,214 shares during the period. Phoenix Holdings Ltd.’s holdings in State Street were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of STT. Raymond James Trust N.A. bought a new position in State Street during the 1st quarter worth about $209,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of State Street by 1.9% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,297 shares of the asset manager’s stock valued at $1,241,000 after buying an additional 439 shares during the last quarter. Railway Pension Investments Ltd purchased a new stake in shares of State Street during the first quarter valued at about $2,514,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of State Street by 49.8% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,912 shares of the asset manager’s stock valued at $208,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd raised its position in shares of State Street by 6.8% in the 1st quarter. Redpoint Investment Management Pty Ltd now owns 10,553 shares of the asset manager’s stock valued at $562,000 after purchasing an additional 672 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.
Shares of NYSE:STT traded down $2.66 during midday trading on Thursday, reaching $67.79. The company’s stock had a trading volume of 48,537 shares, compared to its average volume of 1,894,669. State Street Corp has a 1 year low of $42.10 and a 1 year high of $85.89. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.50. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $65.02 and a 200 day moving average price of $63.02.
State Street (NYSE:STT) last announced its quarterly earnings results on Friday, July 17th. The asset manager reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.23. State Street had a return on equity of 12.74% and a net margin of 20.27%. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the firm posted $1.45 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that State Street Corp will post 6.49 earnings per share for the current fiscal year.
In related news, EVP Michael L. Richards sold 379 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $70.35, for a total value of $26,662.65. Following the transaction, the executive vice president now owns 20,180 shares in the company, valued at $1,419,663. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Lehner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $63.55, for a total transaction of $31,775.00. Following the completion of the transaction, the executive vice president now owns 23,860 shares in the company, valued at approximately $1,516,303. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of State Street from a “hold” rating to a “strong-buy” rating and set a $72.00 price target for the company in a research report on Tuesday, July 28th. Credit Suisse Group raised their price target on shares of State Street from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Wolfe Research lowered shares of State Street from an “outperform” rating to a “peer perform” rating and set a $72.00 price target for the company. in a research report on Thursday, July 9th. Seaport Global Securities initiated coverage on shares of State Street in a research note on Wednesday, July 8th. They set a “buy” rating and a $83.00 price objective on the stock. Finally, Deutsche Bank dropped their price objective on shares of State Street from $68.00 to $67.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.74.
State Street Company 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.
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