Rathbones Group PLC Has $5.71 Million Stock Holdings in State Street Corporation $STT

Rathbones Group PLC trimmed its stake in shares of State Street Corporation (NYSE:STT) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,683 shares of the asset manager’s stock after selling 1,581 shares during the quarter. Rathbones Group PLC’s holdings in State Street were worth $5,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of State Street by 9.0% during the 1st quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock worth $732,775,000 after buying an additional 674,120 shares during the period. Northern Trust Corp raised its stake in State Street by 2.8% during the first quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager’s stock worth $381,770,000 after acquiring an additional 115,751 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of State Street by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager’s stock valued at $274,732,000 after acquiring an additional 14,011 shares during the period. Eastern Bank lifted its holdings in shares of State Street by 6,967.4% during the first quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock valued at $267,646,000 after acquiring an additional 2,947,153 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of State Street by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,713,415 shares of the asset manager’s stock valued at $242,932,000 after purchasing an additional 49,353 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction that occurred 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 $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Cowen reaffirmed a “buy” rating on shares of State Street in a report on Tuesday, October 21st. The Goldman Sachs Group boosted their target price on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. BMO Capital Markets began coverage on State Street in a research report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Citigroup lifted their price objective on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.92.

State Street Trading Up 0.8%

Shares of STT opened at $118.23 on Monday. The stock’s fifty day simple moving average is $114.54 and its 200-day simple moving average is $107.25. The firm has a market capitalization of $33.02 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $119.33. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its quarterly earnings data 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 $13 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the business posted $2.26 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts predict that State Street Corporation will post 9.68 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. 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.