Csenge Advisory Group Invests $863,000 in State Street Corporation (STT)

Csenge Advisory Group acquired a new stake in State Street Corporation (NYSE:STT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,030 shares of the asset manager’s stock, valued at approximately $863,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in STT. BlackRock Inc. raised its holdings in shares of State Street Corporation by 2,256.7% in the 1st quarter. BlackRock Inc. now owns 20,603,959 shares of the asset manager’s stock valued at $1,640,284,000 after purchasing an additional 19,729,678 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in shares of State Street Corporation by 76.9% in the 2nd quarter. Longview Partners Guernsey LTD now owns 7,569,482 shares of the asset manager’s stock valued at $679,210,000 after purchasing an additional 3,290,082 shares in the last quarter. FMR LLC raised its holdings in shares of State Street Corporation by 10.8% in the 2nd quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock valued at $1,793,591,000 after purchasing an additional 1,940,536 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of State Street Corporation by 103.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,839,323 shares of the asset manager’s stock valued at $165,042,000 after purchasing an additional 933,038 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of State Street Corporation by 33.3% in the 2nd quarter. Capital International Investors now owns 3,533,631 shares of the asset manager’s stock valued at $317,073,000 after purchasing an additional 883,431 shares in the last quarter. Institutional investors and hedge funds own 87.81% of the company’s stock.

In other State Street Corporation news, insider Andrew Erickson sold 353 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $93.01, for a total transaction of $32,832.53. Following the sale, the insider now directly owns 21,170 shares of the company’s stock, valued at $1,969,021.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $92.55, for a total transaction of $296,160.00. Following the sale, the insider now directly owns 39,896 shares in the company, valued at $3,692,374.80. The disclosure for this sale can be found here. Insiders have sold 3,814 shares of company stock worth $353,485 over the last three months. 0.71% of the stock is owned by corporate insiders.

STT has been the topic of several research analyst reports. Zacks Investment Research lowered shares of State Street Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Citigroup Inc. reiterated a “neutral” rating and set a $102.00 price target (up from $88.00) on shares of State Street Corporation in a research note on Monday, October 9th. Keefe, Bruyette & Woods set a $93.00 price target on shares of State Street Corporation and gave the stock a “hold” rating in a research note on Monday, August 28th. Barclays PLC lifted their price target on shares of State Street Corporation from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, Morgan Stanley lifted their price target on shares of State Street Corporation from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. State Street Corporation presently has a consensus rating of “Hold” and an average price target of $97.07.

State Street Corporation (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. State Street Corporation had a net margin of 20.56% and a return on equity of 13.03%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share.

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About State Street Corporation

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.

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

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