State Street Corporation (STT) Shares Bought by Hartford Investment Management Co.
Hartford Investment Management Co. raised its holdings in State Street Corporation (NYSE:STT) by 6.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,974 shares of the asset manager’s stock after buying an additional 5,232 shares during the quarter. Hartford Investment Management Co.’s holdings in State Street were worth $8,787,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Raymond James Trust N.A. raised its stake in shares of State Street by 26.5% in the third quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock worth $393,000 after purchasing an additional 862 shares during the last quarter. Commonwealth Bank of Australia raised its stake in shares of State Street by 5.8% in the second quarter. Commonwealth Bank of Australia now owns 61,202 shares of the asset manager’s stock worth $5,490,000 after purchasing an additional 3,365 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of State Street in the second quarter worth about $4,730,000. Boston Advisors LLC purchased a new position in shares of State Street in the third quarter worth about $13,279,000. Finally, Todd Asset Management LLC raised its stake in shares of State Street by 84.0% in the third quarter. Todd Asset Management LLC now owns 399,013 shares of the asset manager’s stock worth $38,122,000 after purchasing an additional 182,164 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.
Shares of State Street Corporation (NYSE:STT) traded up $0.13 during mid-day trading on Friday, reaching $95.48. The company had a trading volume of 1,707,688 shares, compared to its average volume of 1,964,722. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $35,360.00, a PE ratio of 15.34, a P/E/G ratio of 1.59 and a beta of 1.35. State Street Corporation has a 52 week low of $74.45 and a 52 week high of $99.99.
State Street (NYSE:STT) last announced its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. State Street had a return on equity of 13.03% and a net margin of 20.56%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $1.35 earnings per share. State Street’s quarterly revenue was up 7.7% on a year-over-year basis. research analysts anticipate that State Street Corporation will post 6.25 EPS for the current year.
In other State Street news, Chairman Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total value of $2,315,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Erickson sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,724 shares of company stock worth $2,659,741. 0.71% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on State Street in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 price objective for the company. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Citigroup restated a “neutral” rating and issued a $102.00 price objective (up from $88.00) on shares of State Street in a research note on Monday, October 9th. ValuEngine cut State Street from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Jefferies Group restated a “hold” rating and issued a $100.00 price objective on shares of State Street in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. State Street currently has a consensus rating of “Hold” and a consensus target price of $96.47.
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State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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