Somerville Kurt F Lowers Holdings in State Street Corporation (STT)

Somerville Kurt F trimmed its stake in State Street Corporation (NYSE:STT) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,870 shares of the asset manager’s stock after selling 1,387 shares during the period. Somerville Kurt F’s holdings in State Street Corporation were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Baldwin Brothers Inc. MA boosted its position in State Street Corporation by 56.3% in the 3rd quarter. Baldwin Brothers Inc. MA now owns 9,696 shares of the asset manager’s stock valued at $926,000 after buying an additional 3,491 shares during the period. Pictet Asset Management Ltd. boosted its position in State Street Corporation by 5.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 310,161 shares of the asset manager’s stock valued at $29,633,000 after buying an additional 17,290 shares during the period. Segment Wealth Management LLC boosted its position in State Street Corporation by 14.9% in the 3rd quarter. Segment Wealth Management LLC now owns 36,608 shares of the asset manager’s stock valued at $3,497,000 after buying an additional 4,761 shares during the period. Calamos Advisors LLC boosted its position in State Street Corporation by 1.8% in the 3rd quarter. Calamos Advisors LLC now owns 48,219 shares of the asset manager’s stock valued at $4,607,000 after buying an additional 842 shares during the period. Finally, Carroll Financial Associates Inc. boosted its position in State Street Corporation by 26.7% in the 3rd quarter. Carroll Financial Associates Inc. now owns 3,800 shares of the asset manager’s stock valued at $376,000 after buying an additional 800 shares during the period. 87.81% of the stock is owned by institutional investors.

State Street Corporation (NYSE:STT) traded up 0.25% during mid-day trading on Monday, hitting $93.74. 676,143 shares of the stock traded hands. State Street Corporation has a 12-month low of $69.49 and a 12-month high of $99.99. The company has a 50 day moving average of $96.26 and a 200-day moving average of $89.87. The stock has a market cap of $35.05 billion, a PE ratio of 17.31 and a beta of 1.31.

State Street Corporation (NYSE:STT) last announced its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.10. State Street Corporation had a net margin of 20.56% and a return on equity of 13.03%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company posted $1.35 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that State Street Corporation will post $6.26 earnings per share for the current year.

Several equities research analysts have issued reports on STT shares. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, July 11th. Buckingham Research restated a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of State Street Corporation in a report on Monday, July 10th. Morgan Stanley boosted their price target on shares of State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Jefferies Group LLC restated a “hold” rating and issued a $100.00 price target on shares of State Street Corporation in a report on Friday, September 15th. Finally, Keefe, Bruyette & Woods set a $93.00 price target on shares of State Street Corporation and gave the company a “hold” rating in a report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. State Street Corporation currently has an average rating of “Hold” and an average price target of $97.07.

In related news, insider Andrew Erickson sold 353 shares of State Street Corporation stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $93.01, for a total value of $32,832.53. Following the transaction, the insider now directly owns 21,170 shares in the company, valued at approximately $1,969,021.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hannah M. Grove sold 3,200 shares of State Street Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $92.55, for a total transaction of $296,160.00. Following the completion of the transaction, the insider now owns 39,896 shares in the company, valued at $3,692,374.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,814 shares of company stock worth $353,485. 0.71% of the stock is currently owned by insiders.

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

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