Toronto Dominion Bank boosted its holdings in State Street Corporation (NYSE:STT) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,822 shares of the asset manager’s stock after purchasing an additional 21,743 shares during the quarter. Toronto Dominion Bank’s holdings in State Street Corporation were worth $13,644,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Trust N.A. grew its position in State Street Corporation by 26.5% in the 3rd quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 862 shares during the period. Commonwealth Bank of Australia grew its position in State Street Corporation by 5.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 61,202 shares of the asset manager’s stock valued at $5,490,000 after purchasing an additional 3,365 shares during the period. Delta Lloyd Asset Management N.V. acquired a new stake in State Street Corporation in the 2nd quarter valued at $4,730,000. Boston Advisors LLC acquired a new stake in State Street Corporation in the 3rd quarter valued at $13,279,000. Finally, Pennsylvania Trust Co grew its position in State Street Corporation by 6.5% in the 2nd quarter. Pennsylvania Trust Co now owns 3,948 shares of the asset manager’s stock valued at $361,000 after purchasing an additional 240 shares during the period. 88.15% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on STT. Wells Fargo & Company began coverage on shares of State Street Corporation in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 price target for the company. Barclays PLC lifted their price target on shares of State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Wednesday, August 30th. ValuEngine downgraded shares of State Street Corporation from a “buy” rating to a “hold” rating in a report on Friday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of State Street Corporation in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $97.07.
State Street Corporation (STT) traded up $0.14 during midday trading on Tuesday, hitting $90.79. The stock had a trading volume of 1,444,800 shares, compared to its average volume of 1,970,941. The company has a market cap of $33,616.35, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36. State Street Corporation has a 12 month low of $74.45 and a 12 month high of $99.99. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61.
State Street Corporation (NYSE:STT) last released its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 EPS. equities research analysts forecast that State Street Corporation will post 6.25 earnings per share for the current fiscal year.
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In related news, Chairman Joseph L. Hooley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total value of $2,315,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Hannah M. Grove sold 3,200 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,814 shares of company stock worth $2,668,773 over the last quarter. Company insiders own 0.71% of the company’s stock.
About State Street Corporation
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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