Jump Financial LLC Sells 204,197 Shares of State Street Corporation $STT

Jump Financial LLC trimmed its holdings in shares of State Street Corporation (NYSE:STT) by 79.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,270 shares of the asset manager’s stock after selling 204,197 shares during the quarter. Jump Financial LLC’s holdings in State Street were worth $5,665,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of STT. Brown Advisory Inc. boosted its holdings in shares of State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after buying an additional 93 shares during the period. Harbour Investments Inc. raised its holdings in shares of State Street by 11.7% during the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after acquiring an additional 106 shares during the period. McAdam LLC lifted its position in State Street by 1.7% in the 2nd quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock valued at $707,000 after acquiring an additional 111 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in State Street by 5.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager’s stock valued at $201,000 after acquiring an additional 126 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in State Street by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 3,222 shares of the asset manager’s stock worth $343,000 after purchasing an additional 146 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore ISI lifted their price target on State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. Morgan Stanley boosted their target price on State Street from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. BMO Capital Markets began coverage on State Street in a research report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target for the company. Finally, Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.92.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the sale, the executive vice president owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $126.08 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s 50-day simple moving average is $116.78 and its 200 day simple moving average is $111.14. The company has a market cap of $35.22 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.15 and a beta of 1.44. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $127.07.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating the consensus estimate of $2.57 by $0.21. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. As a group, sell-side analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

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, 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.