BNP Paribas Arbitrage SA Sells 29,331 Shares of State Street Corp. (STT)
BNP Paribas Arbitrage SA cut its stake in shares of State Street Corp. (NYSE:STT) by 40.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,232 shares of the company’s stock after selling 29,331 shares during the period. BNP Paribas Arbitrage SA’s holdings in State Street Corp. were worth $3,010,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of STT. Emerald Acquisition Ltd. acquired a new position in State Street Corp. during the second quarter worth $223,563,000. Yacktman Asset Management LP boosted its position in State Street Corp. by 0.9% in the second quarter. Yacktman Asset Management LP now owns 1,690,800 shares of the company’s stock worth $91,168,000 after buying an additional 15,000 shares in the last quarter. Brandes Investment Partners LP boosted its position in State Street Corp. by 2.2% in the second quarter. Brandes Investment Partners LP now owns 2,678,770 shares of the company’s stock worth $144,439,000 after buying an additional 58,873 shares in the last quarter. Strs Ohio boosted its position in State Street Corp. by 0.3% in the second quarter. Strs Ohio now owns 650,842 shares of the company’s stock worth $35,093,000 after buying an additional 2,180 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in State Street Corp. by 1.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 678,025 shares of the company’s stock worth $36,559,000 after buying an additional 6,780 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.
Shares of State Street Corp. (NYSE:STT) traded up 2.32% during midday trading on Wednesday, hitting $78.80. The stock had a trading volume of 2,339,264 shares. The stock has a 50 day moving average of $73.38 and a 200-day moving average of $66.26. State Street Corp. has a one year low of $50.60 and a one year high of $79.27. The company has a market cap of $30.40 billion, a P/E ratio of 16.12 and a beta of 1.32.
State Street Corp. (NYSE:STT) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.10. State Street Corp. had a return on equity of 11.59% and a net margin of 19.97%. The firm earned $2.62 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts forecast that State Street Corp. will post $5.09 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on STT shares. Zacks Investment Research upgraded State Street Corp. from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, November 15th. Barclays PLC reiterated a “buy” rating and set a $71.00 price target on shares of State Street Corp. in a report on Tuesday, October 11th. Deutsche Bank AG increased their price target on State Street Corp. from $70.00 to $73.00 and gave the stock a “hold” rating in a report on Friday, September 9th. increased their price target on State Street Corp. from $60.00 to $73.00 and gave the stock an “underperform” rating in a report on Friday, September 23rd. Finally, Jefferies Group increased their price target on State Street Corp. from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. State Street Corp. presently has an average rating of “Hold” and a consensus target price of $72.81.
In other State Street Corp. news, EVP Jeffrey N. Carp sold 2,926 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $77.38, for a total transaction of $226,413.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karen C. Keenan sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $70.57, for a total value of $70,570.00. Following the sale, the executive vice president now directly owns 48,547 shares of the company’s stock, valued at approximately $3,425,961.79. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
State Street Corp. Company Profile
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
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