57,976 Shares in State Street Corp (STT) Acquired by Uniplan Investment Counsel Inc.

Uniplan Investment Counsel Inc. purchased a new position in State Street Corp (NYSE:STT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,976 shares of the asset manager’s stock, valued at approximately $4,857,000.

A number of other hedge funds have also bought and sold shares of the business. Cornerstone Wealth Management LLC bought a new position in shares of State Street during the 2nd quarter valued at approximately $754,000. Acadian Asset Management LLC increased its stake in shares of State Street by 10,354.8% during the second quarter. Acadian Asset Management LLC now owns 8,782 shares of the asset manager’s stock valued at $818,000 after buying an additional 8,698 shares during the period. Janney Montgomery Scott LLC boosted its position in State Street by 8.0% during the second quarter. Janney Montgomery Scott LLC now owns 17,707 shares of the asset manager’s stock valued at $1,648,000 after purchasing an additional 1,313 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in State Street by 6.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 33,970 shares of the asset manager’s stock valued at $3,162,000 after purchasing an additional 2,127 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in State Street by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 35,179 shares of the asset manager’s stock valued at $3,275,000 after purchasing an additional 604 shares in the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.

Shares of State Street stock opened at $71.39 on Tuesday. State Street Corp has a twelve month low of $65.81 and a twelve month high of $114.27. The firm has a market capitalization of $27.71 billion, a P/E ratio of 11.98, a PEG ratio of 1.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50.

State Street (NYSE:STT) last issued its earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.02). State Street had a net margin of 19.90% and a return on equity of 14.99%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the business posted $1.71 EPS. State Street’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that State Street Corp will post 7.43 EPS for the current year.

In related news, EVP Louis D. Maiuri acquired 740 shares of the business’s 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 transaction, the executive vice president now directly owns 45,314 shares of the company’s stock, valued at approximately $3,063,226.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Saint-Aignan Patrick De acquired 500 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was bought at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the completion of the transaction, 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. 0.40% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on STT. Deutsche Bank raised their price objective on State Street from $98.00 to $99.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Wells Fargo & Co set a $105.00 price target on State Street and gave the company a “buy” rating in a research report on Thursday, August 16th. Goldman Sachs Group began coverage on State Street in a research report on Thursday, October 11th. They issued a “buy” rating for the company. UBS Group lifted their price target on State Street from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $95.00 price objective on shares of State Street in a research note on Sunday, October 21st. Two analysts have rated the stock with a sell rating, seven have given 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 target price of $102.47.

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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.

See Also: Depreciation

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

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