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.
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.
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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