3,632 State Street Corporation $STT Shares Sold by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC lowered its stake in State Street Corporation (NYSE:STT) by 37.2% during the third quarter, Holdings Channel reports. The institutional investor owned 6,133 shares of the asset manager’s stock after selling 3,632 shares during the period. Fairvoy Private Wealth LLC’s holdings in State Street were worth $1,071,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Philadelphia Investment Partners LLC acquired a new stake in State Street during the second quarter worth approximately $26,000. Bell Investment Advisors Inc bought a new stake in shares of State Street during the second quarter worth approximately $28,000. Elevation Wealth Partners LLC boosted its holdings in shares of State Street by 153.6% during the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after acquiring an additional 106 shares during the period. Continuum Advisory LLC bought a new stake in shares of State Street during the second quarter worth approximately $30,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of State Street in the second quarter valued at approximately $33,000. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STT. Barclays increased their target price on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Bank of America boosted their price target on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Morgan Stanley upped their price objective on State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 17th. The Goldman Sachs Group increased their price objective on State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Evercore set a $200.00 price objective on shares of State Street in a research note on Monday, July 20th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $189.74.

Insider Activity at State Street

In related news, EVP W. Hu sold 9,758 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the transaction, the executive vice president owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This represents a 16.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald O’Hanley sold 14,553 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the completion of the sale, the chief executive officer owned 240,959 shares in the company, valued at $44,377,419.03. This represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is owned by corporate insiders.

State Street Price Performance

Shares of STT stock traded down $0.51 on Monday, reaching $165.21. The company had a trading volume of 2,460,753 shares, compared to its average volume of 2,142,555. The stock has a market capitalization of $45.38 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. The company has a quick ratio of 0.59, a current ratio of 0.57 and a debt-to-equity ratio of 1.07. State Street Corporation has a one year low of $111.63 and a one year high of $195.93. The business’s 50-day moving average is $184.20 and its 200 day moving average is $169.89.

State Street (NYSE:STT) last posted its quarterly earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.01. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.36%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $2.78 EPS. Equities research analysts forecast that State Street Corporation will post 13.77 EPS for the current fiscal year.

State Street Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.