Citizens Financial Group Inc. RI Has $688,000 Stake in State Street Corporation $STT

Citizens Financial Group Inc. RI lifted its holdings in State Street Corporation (NYSE:STT) by 10.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,467 shares of the asset manager’s stock after acquiring an additional 606 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in State Street were worth $688,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Assetmark Inc. increased its holdings in shares of State Street by 61.9% in the 1st quarter. Assetmark Inc. now owns 934 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 357 shares during the period. Nordea Investment Management AB increased its stake in State Street by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock valued at $241,862,000 after buying an additional 49,475 shares during the period. Charles Schwab Investment Management Inc. lifted its position in State Street by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,891,862 shares of the asset manager’s stock worth $169,378,000 after buying an additional 16,926 shares in the last quarter. Inspire Trust Co. N.A. boosted its stake in shares of State Street by 25.8% during the 1st quarter. Inspire Trust Co. N.A. now owns 45,000 shares of the asset manager’s stock valued at $4,029,000 after buying an additional 9,224 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of State Street by 6.6% during the 1st quarter. LPL Financial LLC now owns 123,407 shares of the asset manager’s stock valued at $11,049,000 after acquiring an additional 7,656 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of State Street in a research note on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on State Street from $109.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Wells Fargo & Company increased their price objective on State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, BMO Capital Markets initiated coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 target price for the company. Two research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Moderate Buy” and an average price target of $125.92.

Insider Buying and Selling

In other State Street 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 transaction of $175,860.00. Following the completion of the transaction, the executive vice president owned 38,626 shares of the company’s stock, valued at $4,528,512.24. The trade was a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

State Street Price Performance

NYSE STT opened at $113.30 on Wednesday. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $122.69. The stock’s 50-day moving average is $115.14 and its two-hundred day moving average is $108.68. The firm has a market cap of $31.65 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. 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 released its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) 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 company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

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.