Rampart Investment Management Company LLC grew its holdings in State Street Corp (NYSE:STT) by 40.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,841 shares of the asset manager’s stock after buying an additional 1,404 shares during the quarter. Rampart Investment Management Company LLC’s holdings in State Street were worth $271,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Norinchukin Bank The increased its position in shares of State Street by 0.7% during the first quarter. Norinchukin Bank The now owns 29,898 shares of the asset manager’s stock worth $1,968,000 after purchasing an additional 200 shares in the last quarter. Resources Investment Advisors Inc. increased its position in shares of State Street by 28.7% during the first quarter. Resources Investment Advisors Inc. now owns 919 shares of the asset manager’s stock worth $60,000 after purchasing an additional 205 shares in the last quarter. McGuire Investment Group LLC increased its position in shares of State Street by 0.8% during the second quarter. McGuire Investment Group LLC now owns 27,353 shares of the asset manager’s stock worth $1,533,000 after purchasing an additional 212 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of State Street by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 40,225 shares of the asset manager’s stock worth $2,255,000 after purchasing an additional 236 shares in the last quarter. Finally, NuWave Investment Management LLC increased its position in shares of State Street by 50.8% during the second quarter. NuWave Investment Management LLC now owns 742 shares of the asset manager’s stock worth $42,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.
In other State Street news, Director Saint-Aignan Patrick De purchased 500 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were acquired at an average price of $58.85 per share, with a total value of $29,425.00. Following the purchase, the director now directly owns 28,793 shares in the company, valued at approximately $1,694,468.05. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey N. Carp sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $51.72, for a total value of $1,293,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders bought 11,000 shares of company stock worth $577,375. Corporate insiders own 0.40% of the company’s stock.
Several brokerages recently commented on STT. Bank of America reiterated a “buy” rating and set a $65.00 price target (down from $75.00) on shares of State Street in a research report on Thursday, June 6th. Morgan Stanley upped their target price on State Street from $55.00 to $58.00 and gave the company an “underweight” rating in a report on Tuesday. UBS Group upped their target price 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 upped their target price on State Street from $68.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, July 22nd. Finally, Zacks Investment Research cut State Street from a “hold” rating to a “sell” rating and set a $59.00 target price for the company. in a report on Tuesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.95.
NYSE:STT traded down $0.99 during trading hours on Friday, hitting $60.11. The company had a trading volume of 3,320,675 shares, compared to its average volume of 2,944,910. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $53.44 and a 200 day moving average of $60.12. The company has a market cap of $22.53 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.99 and a beta of 1.47. State Street Corp has a 1 year low of $48.62 and a 1 year high of $89.77.
State Street (NYSE:STT) last issued its earnings results on Friday, July 19th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $2.86 billion. During the same period in the prior year, the business earned $2.05 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that State Street Corp will post 5.73 earnings per share for the current year.
About State Street
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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