Evelyn Partners Investment Management LLP Lowers Stock Holdings in State Street Corporation $STT

Evelyn Partners Investment Management LLP cut its holdings in shares of State Street Corporation (NYSE:STT) by 37.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,455 shares of the asset manager’s stock after selling 1,484 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in State Street were worth $261,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC increased its stake 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 valued at $25,000 after acquiring an additional 274 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in State Street in the first quarter valued at approximately $46,000. CVA Family Office LLC increased its position in State Street by 45.8% during the second quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock worth $60,000 after purchasing an additional 176 shares during the last quarter. Sarver Vrooman Wealth Advisors purchased a new position in State Street during the second quarter worth approximately $77,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of State Street by 1,650.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 693 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the firm’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 sale, the executive vice president directly owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

State Street Price Performance

STT stock opened at $114.32 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $122.69. The firm has a market cap of $31.93 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The stock has a 50-day simple moving average of $115.25 and a 200-day simple moving average of $109.05.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 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 firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the company posted $2.26 EPS. State Street’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research analyst reports. BMO Capital Markets started coverage on State Street in a report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price objective for the company. Evercore ISI boosted their price target on State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Citigroup raised their price objective on State Street from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Cowen reiterated a “buy” rating on shares of State Street in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.