State Street Corp (STT) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in shares of State Street Corp (NYSE:STT) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,595 shares of the asset manager’s stock after selling 3,884 shares during the period. Quantbot Technologies LP’s holdings in State Street were worth $1,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new stake in State Street in the second quarter worth approximately $754,000. Acadian Asset Management LLC grew its position in State Street by 10,354.8% in the second quarter. Acadian Asset Management LLC now owns 8,782 shares of the asset manager’s stock worth $818,000 after acquiring an additional 8,698 shares in the last quarter. Janney Montgomery Scott LLC grew its position in State Street by 8.0% in the second quarter. Janney Montgomery Scott LLC now owns 17,707 shares of the asset manager’s stock worth $1,648,000 after acquiring an additional 1,313 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in State Street by 6.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 33,970 shares of the asset manager’s stock worth $3,162,000 after acquiring an additional 2,127 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in State Street by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 35,179 shares of the asset manager’s stock worth $3,275,000 after acquiring an additional 604 shares in the last quarter. 87.22% of the stock is currently owned by institutional investors.

In other State Street news, Director Saint-Aignan Patrick De acquired 500 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was bought at an average price of $68.62 per share, for a total transaction of $34,310.00. Following the purchase, the director now owns 25,138 shares in the company, valued at approximately $1,724,969.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Louis D. Maiuri acquired 740 shares of the company’s stock in a transaction dated Wednesday, October 24th. The stock was acquired at an average price of $67.60 per share, with a total value of $50,024.00. Following the purchase, the executive vice president now owns 45,314 shares in the company, valued at approximately $3,063,226.40. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

STT has been the subject of several recent research reports. Deutsche Bank boosted their target price 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. Wells Fargo & Co set a $105.00 target price on shares of State Street and gave the stock a “buy” rating in a research report on Thursday, August 16th. Goldman Sachs Group initiated coverage on shares of State Street in a research report on Thursday, October 11th. They issued a “buy” rating for the company. UBS Group boosted their target price on shares of State Street from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $95.00 target price on shares of State Street in a research report on Sunday, October 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. State Street has a consensus rating of “Hold” and an average target price of $102.47.

NYSE STT opened at $73.15 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The firm has a market cap of $27.71 billion, a P/E ratio of 12.27, a PEG ratio of 1.07 and a beta of 1.35. State Street Corp has a 1 year low of $65.81 and a 1 year high of $114.27.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.02). State Street had a net margin of 19.90% and a return on equity of 14.99%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $1.71 earnings per share. State Street’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that State Street Corp will post 7.43 earnings per share for the current year.

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About State Street

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.

Further Reading: What is a Derivative?

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

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