82,216 Shares in State Street Corporation $STT Acquired by Thames Capital Management LLC

Thames Capital Management LLC acquired a new position in shares of State Street Corporation (NYSE:STT) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 82,216 shares of the asset manager’s stock, valued at approximately $8,743,000. State Street comprises approximately 2.0% of Thames Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds also recently bought and sold shares of STT. Capital Analysts LLC boosted its position in shares of State Street by 3,914.3% during the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after purchasing an additional 274 shares during the period. Larson Financial Group LLC boosted its position in shares of State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after buying an additional 118 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of State Street during the first quarter worth $46,000. CVA Family Office LLC grew its stake in shares of State Street by 45.8% in the second quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock valued at $60,000 after buying an additional 176 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in shares of State Street in the 1st quarter valued at $77,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares of the company’s stock, valued at $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

State Street Stock Down 1.3%

Shares of NYSE STT opened at $116.75 on Monday. The business has a 50-day moving average of $115.09 and a two-hundred day moving average of $108.35. The company has a market capitalization of $32.61 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $122.69. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.57.

State Street (NYSE:STT) last posted its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on STT shares. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. TD Cowen assumed coverage on shares of State Street in a research report on Thursday, September 25th. They set a “buy” rating on the stock. Citigroup lifted their price objective on shares of State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company upped their price objective on State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.92.

State Street 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.