State Street Corp (STT) Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC grew its holdings in State Street Corp (NYSE:STT) by 364.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,238 shares of the asset manager’s stock after acquiring an additional 4,895 shares during the period. Valeo Financial Advisors LLC’s holdings in State Street were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT lifted its position in shares of State Street by 1.1% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 97,271 shares of the asset manager’s stock valued at $8,149,000 after acquiring an additional 1,091 shares in the last quarter. ARGA Investment Management LP lifted its position in shares of State Street by 19.0% in the third quarter. ARGA Investment Management LP now owns 36,125 shares of the asset manager’s stock valued at $3,027,000 after acquiring an additional 5,775 shares in the last quarter. Stoneridge Investment Partners LLC lifted its position in shares of State Street by 362.7% in the third quarter. Stoneridge Investment Partners LLC now owns 33,334 shares of the asset manager’s stock valued at $2,793,000 after acquiring an additional 26,130 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of State Street by 2.0% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 46,646 shares of the asset manager’s stock valued at $3,908,000 after acquiring an additional 927 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of State Street by 15.7% in the third quarter. Ballentine Partners LLC now owns 5,827 shares of the asset manager’s stock valued at $488,000 after acquiring an additional 790 shares in the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.

NYSE:STT opened at $69.98 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.52 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $25.15 billion, a P/E ratio of 9.33, a PEG ratio of 1.00 and a beta of 1.34. State Street Corp has a 12 month low of $65.81 and a 12 month high of $114.27.

State Street (NYSE:STT) last posted its earnings results on Friday, October 19th. The asset manager reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.02). The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. State Street’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. On average, equities research analysts anticipate that State Street Corp will post 7.42 EPS for the current year.

In related news, EVP Louis D. Maiuri acquired 740 shares of State Street stock in a transaction on Wednesday, October 24th. The shares were bought at an average cost of $67.60 per share, with a total value of $50,024.00. Following the completion of the purchase, the executive vice president now directly owns 45,314 shares of the company’s stock, valued at approximately $3,063,226.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Saint-Aignan Patrick De acquired 500 shares of State Street stock in a transaction on Tuesday, October 23rd. The shares were bought at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the completion of the purchase, the director now directly owns 25,138 shares of the company’s stock, valued at $1,724,969.56. The disclosure for this purchase can be found here. Insiders sold 26,954 shares of company stock worth $2,237,777 over the last quarter. 0.40% of the stock is owned by company insiders.

Several equities analysts have recently commented on STT shares. Credit Suisse Group lowered their price objective on State Street from $110.00 to $103.00 and set a “$87.02” rating on the stock in a research report on Monday, July 23rd. Barclays lowered their price objective on State Street from $120.00 to $110.00 and set a “$87.02” rating on the stock in a research report on Monday, July 23rd. Deutsche Bank lowered their price objective on State Street from $102.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Wells Fargo & Co set a $105.00 price objective on State Street and gave the company a “buy” rating in a research report on Thursday, August 16th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $100.00 target price on shares of State Street in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. State Street presently has an average rating of “Hold” and an average price target of $103.07.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

Recommended Story: What Factors Can Affect Return on Equity?

Institutional Ownership by Quarter for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply