D.A. Davidson & CO. Has $13.91 Million Stock Position in State Street Corporation $STT

D.A. Davidson & CO. raised its holdings in State Street Corporation (NYSE:STT) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,842 shares of the asset manager’s stock after buying an additional 6,208 shares during the quarter. D.A. Davidson & CO.’s holdings in State Street were worth $13,914,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in STT. Brighton Jones LLC acquired a new position in State Street in the fourth quarter valued at approximately $296,000. GAMMA Investing LLC lifted its stake in State Street by 14.7% in the first quarter. GAMMA Investing LLC now owns 3,674 shares of the asset manager’s stock valued at $329,000 after buying an additional 472 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in State Street by 58.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 52,383 shares of the asset manager’s stock valued at $4,690,000 after buying an additional 19,377 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of State Street by 40.7% during the first quarter. Flagship Harbor Advisors LLC now owns 3,899 shares of the asset manager’s stock worth $349,000 after purchasing an additional 1,128 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of State Street by 4.9% during the first quarter. Asset Management One Co. Ltd. now owns 148,854 shares of the asset manager’s stock worth $13,327,000 after purchasing an additional 6,992 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STT shares. Morgan Stanley upped their target price on State Street from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday. Cowen reaffirmed a “buy” rating on shares of State Street in a research report on Tuesday. Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Citigroup raised State Street from a “neutral” rating to a “buy” rating and upped their target price for the stock from $115.00 to $130.00 in a research report on Friday, September 5th. Finally, BMO Capital Markets started coverage on State Street in a research report on Friday, October 3rd. They set an “outperform” rating and a $130.00 target price on the stock. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.42.

State Street Trading Down 1.1%

NYSE STT opened at $113.15 on Thursday. The firm has a market capitalization of $32.10 billion, a P/E ratio of 11.97, a PEG ratio of 1.22 and a beta of 1.46. The business has a fifty day simple moving average of $113.80 and a 200 day simple moving average of $103.69. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $118.24. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The business had revenue of $13 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.State Street’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. On average, analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal 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.