Stephens Inc. AR Sells 277 Shares of State Street Corporation $STT

Stephens Inc. AR trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 7.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,516 shares of the asset manager’s stock after selling 277 shares during the quarter. Stephens Inc. AR’s holdings in State Street were worth $374,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Assetmark Inc. increased its stake in State Street by 61.9% during the 1st quarter. Assetmark Inc. now owns 934 shares of the asset manager’s stock worth $84,000 after purchasing an additional 357 shares in the last quarter. Principal Financial Group Inc. increased its stake in State Street by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 339,406 shares of the asset manager’s stock worth $30,387,000 after purchasing an additional 5,242 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in State Street by 127.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 30,710 shares of the asset manager’s stock worth $2,728,000 after purchasing an additional 17,201 shares in the last quarter. Index Fund Advisors Inc. bought a new stake in State Street during the 1st quarter worth approximately $505,000. Finally, Bank of New York Mellon Corp lifted its stake in State Street by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,186,569 shares of the asset manager’s stock valued at $195,764,000 after acquiring an additional 123,259 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

NYSE:STT opened at $116.08 on Monday. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $118.24. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $113.92 and a 200 day simple moving average of $104.59. The stock has a market capitalization of $32.93 billion, a PE ratio of 12.28, a P/E/G ratio of 1.23 and a beta of 1.46.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business had revenue of $13 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period last year, the business earned $2.26 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. On average, research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a research note on Friday. Keefe, Bruyette & Woods raised their price target on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Morgan Stanley raised their price target on shares of State Street from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Cfra Research raised shares of State Street from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, July 15th. Finally, Bank of America raised their price target on shares of State Street from $106.00 to $109.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and an average price target of $125.92.

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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.