State Street Corporation $STT Shares Newly Bought by Leeward Financial Partners LLC

Leeward Financial Partners LLC purchased a new position in State Street Corporation (NYSE:STT) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 18,144 shares of the asset manager’s stock, valued at approximately $3,168,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in State Street during the second quarter valued at approximately $4,139,389,000. State Street Corp raised its holdings in shares of State Street by 1.2% in the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager’s stock worth $2,296,098,000 after buying an additional 163,362 shares in the last quarter. Regents of The University of California raised its holdings in shares of State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after buying an additional 1,358,923 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of State Street by 4.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,962,274 shares of the asset manager’s stock worth $502,402,000 after buying an additional 137,798 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of State Street by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,101,952 shares of the asset manager’s stock worth $392,539,000 after buying an additional 51,754 shares during the period. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In related news, CEO Ronald O’Hanley sold 14,554 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the transaction, the chief executive officer owned 215,905 shares in the company, valued at $35,537,963. This represents a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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

State Street stock opened at $167.91 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.59 and a current ratio of 0.57. The firm has a market cap of $46.13 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.78 and a beta of 1.41. The business’s fifty day moving average is $182.01 and its two-hundred day moving average is $171.26. State Street Corporation has a 52 week low of $111.63 and a 52 week high of $195.93.

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

Wall Street Analyst Weigh In

Several analysts recently commented on STT shares. Citigroup decreased their price target on State Street from $212.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. BMO Capital Markets lowered their price target on State Street from $200.00 to $185.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Morgan Stanley increased their price objective on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods increased their price objective on State Street from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Finally, Capital One Financial set a $200.00 price objective on State Street in a report on Tuesday, October 6th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.74.

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.