United Services Automobile Association trimmed its position in shares of State Street Corp (NYSE:STT) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,277 shares of the asset manager’s stock after selling 1,475 shares during the period. United Services Automobile Association’s holdings in State Street were worth $55,569,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of State Street during the second quarter valued at about $109,000. CI Investments Inc. acquired a new position in State Street in the third quarter worth about $101,000. Patriot Financial Group Insurance Agency LLC raised its position in State Street by 1,855.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,349 shares of the asset manager’s stock worth $113,000 after purchasing an additional 1,280 shares in the last quarter. Sageworth Trust Co raised its position in State Street by 1,151.7% in the third quarter. Sageworth Trust Co now owns 1,815 shares of the asset manager’s stock worth $152,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in State Street by 8,388.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,122 shares of the asset manager’s stock worth $198,000 after purchasing an additional 2,097 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.
Shares of State Street stock opened at $73.02 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.06 and a beta of 1.34. State Street Corp has a 1-year low of $65.81 and a 1-year high of $114.27.
Several research analysts recently issued reports on STT shares. Credit Suisse Group dropped their price target on shares of State Street from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, October 22nd. Goldman Sachs Group started coverage on shares of State Street in a research report on Thursday, October 11th. They issued a “buy” rating for the company. Deutsche Bank increased their price target on shares of State Street from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Morgan Stanley raised shares of State Street from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $109.00 to $115.00 in a research report on Tuesday, September 4th. Finally, Keefe, Bruyette & Woods set a $90.00 price target on shares of State Street and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. State Street presently has a consensus rating of “Hold” and an average price target of $102.47.
In other news, EVP Louis D. Maiuri acquired 740 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were purchased 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 owns 45,314 shares of the company’s stock, valued at $3,063,226.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Saint-Aignan Patrick De acquired 500 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The shares were purchased 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 approximately $1,724,969.56. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.
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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.
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