3,683 Shares of State Street Corporation $STT Bought by StoneX Group Inc.

StoneX Group Inc. acquired a new stake in State Street Corporation (NYSE:STT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,683 shares of the asset manager’s stock, valued at approximately $675,000.

A number of other hedge funds have also recently modified their holdings of the company. Western Wealth Management LLC increased its position in State Street by 3.1% during the first quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock worth $253,000 after purchasing an additional 60 shares during the last quarter. apricus wealth LLC boosted its holdings in State Street by 0.3% in the 3rd quarter. apricus wealth LLC now owns 23,155 shares of the asset manager’s stock valued at $4,043,000 after purchasing an additional 60 shares during the last quarter. Claro Advisors Inc. boosted its holdings in State Street by 4.4% in the 3rd quarter. Claro Advisors Inc. now owns 1,594 shares of the asset manager’s stock valued at $278,000 after purchasing an additional 67 shares during the last quarter. Genesee Capital Advisors LLC grew its stake in shares of State Street by 1.2% in the 3rd quarter. Genesee Capital Advisors LLC now owns 5,601 shares of the asset manager’s stock valued at $978,000 after buying an additional 68 shares during the period. Finally, SYM FINANCIAL Corp grew its stake in shares of State Street by 2.6% in the 3rd quarter. SYM FINANCIAL Corp now owns 2,909 shares of the asset manager’s stock valued at $508,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.4%

Shares of STT opened at $171.61 on Wednesday. The company’s 50-day moving average price is $177.04 and its 200 day moving average price is $160.10. State Street Corporation has a 12-month low of $111.63 and a 12-month high of $195.93. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.02. The firm has a market cap of $46.69 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38.

State Street (NYSE:STT) last announced its quarterly earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.01. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.11%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $2.78 earnings per share. On average, sell-side analysts forecast that State Street Corporation will post 13.78 earnings per share for the current year.

Wall Street Analyst Weigh In

STT has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of State Street from $211.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. DA Davidson decreased their price objective on State Street from $200.00 to $191.00 and set a “buy” rating on the stock in a report on Thursday, October 15th. BMO Capital Markets decreased their price objective on State Street from $200.00 to $185.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Morgan Stanley increased their price objective on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their target price on State Street from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, State Street presently has an average rating of “Moderate Buy” and an average target price of $193.97.

Insider Buying and Selling

In other State Street news, CEO Hanley Ronald P. O sold 14,554 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $164.60, for a total value of $2,395,588.40. Following the sale, the chief executive officer owned 215,905 shares of the company’s stock, valued at $35,537,963. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $168.63, for a total value of $1,197,104.37. Following the transaction, the executive vice president owned 42,695 shares in the company, valued at $7,199,657.85. This trade represents a 14.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.27% of the company’s stock.

State Street Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792 as Union Bank, it has a long history serving institutional clients and is among the oldest financial institutions in the United States. The company provides investment servicing, including custody, fund administration, accounting, and related middle- and back-office services. Its clients include asset managers, pension funds, insurers, and other financial institutions. Through State Street Investment Management, the company also offers investment management services and investment products, including the SPDR family of exchange-traded funds.