State Street Corporation $STT Stake Raised by Calamos Advisors LLC

Calamos Advisors LLC grew its stake in State Street Corporation (NYSE:STT) by 45.4% during the third quarter, HoldingsChannel.com reports. The firm owned 266,902 shares of the asset manager’s stock after buying an additional 83,318 shares during the period. Calamos Advisors LLC’s holdings in State Street were worth $46,598,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Alta Advisers Ltd acquired a new stake in State Street during the 3rd quarter worth $332,000. Principle Wealth Partners LLC bought a new position in State Street in the third quarter valued at $227,000. Kestra Advisory Services LLC increased its stake in State Street by 5.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 15,341 shares of the asset manager’s stock valued at $2,678,000 after buying an additional 856 shares during the last quarter. Claro Advisors Inc. increased its stake in State Street by 4.4% in the 3rd quarter. Claro Advisors Inc. now owns 1,594 shares of the asset manager’s stock valued at $278,000 after buying an additional 67 shares during the last quarter. Finally, Quadcap Wealth Management LLC bought a new stake in State Street during the 3rd quarter worth about $479,000. Institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ronald O’Hanley sold 14,554 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the sale, the chief executive officer owned 215,905 shares of the company’s stock, valued at $35,537,963. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $168.63, for a total value of $1,197,104.37. Following the sale, the executive vice president directly owned 42,695 shares in the company, valued at approximately $7,199,657.85. This trade represents a 14.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen initiated coverage on shares of State Street in a research note on Thursday, October 8th. They set a “buy” rating and a $205.00 price objective for the company. Bank of America dropped their target price on State Street from $197.00 to $186.00 in a report on Monday, October 5th. Zacks Research downgraded State Street from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. Royal Bank Of Canada lowered their price target on State Street from $196.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 15th. Finally, Barclays increased their price objective on State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.97.

State Street Price Performance

STT stock traded up $0.46 during trading on Friday, reaching $165.69. 1,201,271 shares of the company were exchanged, compared to its average volume of 2,210,421. The company has a market capitalization of $45.08 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.78 and a beta of 1.38. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50-day moving average of $177.88 and a two-hundred day moving average of $159.67. State Street Corporation has a twelve month low of $111.63 and a twelve month high of $195.93.

State Street (NYSE:STT) last issued its 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.11%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $2.78 earnings per share. As a group, equities analysts predict that State Street Corporation will post 13.78 earnings per share for the current fiscal year.

About State Street

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792 as Union Bank, it has a long history serving institutional clients and is among the oldest financial institutions in the United States.

The company provides investment servicing, including custody, fund administration, accounting, and related middle- and back-office services. Its clients include asset managers, pension funds, insurers, and other financial institutions.

Through State Street Investment Management, the company also offers investment management services and investment products, including the SPDR family of exchange-traded funds.