Foster & Motley Inc. Sells 123 Shares of State Street Corporation $STT

Foster & Motley Inc. reduced its holdings in shares of State Street Corporation (NYSE:STT) by 3.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,574 shares of the asset manager’s stock after selling 123 shares during the period. Foster & Motley Inc.’s holdings in State Street were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STT. Eastern Bank lifted its stake in shares of State Street by 6,967.4% during the 1st quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock worth $267,646,000 after acquiring an additional 2,947,153 shares during the last quarter. Nuveen LLC bought a new stake in shares of State Street during the 1st quarter worth approximately $93,016,000. Invesco Ltd. lifted its stake in shares of State Street by 9.0% during the 1st quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock worth $732,775,000 after acquiring an additional 674,120 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of State Street during the 1st quarter worth approximately $42,504,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of State Street by 404.7% during the 1st quarter. Allianz Asset Management GmbH now owns 586,052 shares of the asset manager’s stock worth $52,469,000 after acquiring an additional 469,936 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael L. Richards sold 990 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total transaction of $108,197.10. Following the transaction, the executive vice president directly owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by company insiders.

State Street Stock Down 1.5%

Shares of STT stock opened at $111.27 on Monday. State Street Corporation has a 1-year low of $72.81 and a 1-year high of $118.24. The stock’s fifty day moving average price is $113.60 and its 200 day moving average price is $103.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.57. The company has a market cap of $31.57 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

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

Wall Street Analyst Weigh In

STT has been the subject of a number of research analyst reports. Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, July 15th. Bank of America lifted their target price on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research report on Wednesday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. Truist Financial boosted their price target on State Street from $125.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Zacks Research raised State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.83.

State Street Company 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.