Cerity Partners LLC Raises Position in State Street Co. (NYSE:STT)

Cerity Partners LLC raised its holdings in State Street Co. (NYSE:STTGet Rating) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,213 shares of the asset manager’s stock after buying an additional 173 shares during the period. Cerity Partners LLC’s holdings in State Street were worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STT. Tcwp LLC acquired a new stake in shares of State Street in the 1st quarter valued at $25,000. Venture Visionary Partners LLC acquired a new stake in shares of State Street in the 2nd quarter valued at $27,000. First Financial Corp IN raised its holdings in shares of State Street by 81.7% in the 2nd quarter. First Financial Corp IN now owns 438 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. City State Bank raised its holdings in shares of State Street by 42.9% in the 1st quarter. City State Bank now owns 500 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 150 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 89.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STT. Deutsche Bank Aktiengesellschaft raised their price objective on shares of State Street from $66.00 to $77.00 and gave the company a “hold” rating in a report on Tuesday, November 15th. Morgan Stanley cut their price target on shares of State Street from $86.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 4th. Barclays cut their price target on shares of State Street from $102.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 19th. Citigroup lifted their price target on shares of State Street to $81.00 in a research note on Thursday. Finally, StockNews.com initiated coverage on shares of State Street in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.65.

State Street Stock Up 1.4 %

STT stock opened at $75.59 on Monday. The company has a market cap of $27.74 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.32 and a beta of 1.61. State Street Co. has a 52 week low of $58.62 and a 52 week high of $104.87. The company’s 50-day moving average price is $69.39 and its 200 day moving average price is $68.55. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.59.

State Street (NYSE:STTGet Rating) last released its quarterly earnings data on Tuesday, October 18th. The asset manager reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.97 billion. State Street had a net margin of 22.48% and a return on equity of 11.72%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share. On average, research analysts expect that State Street Co. will post 7.15 earnings per share for the current fiscal year.

About State Street

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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 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 and enhanced custody products; 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

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

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