State Street Corporation $STT Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in State Street Corporation (NYSE:STT) by 11.7% in the second quarter, HoldingsChannel.com reports. The fund owned 1,012 shares of the asset manager’s stock after purchasing an additional 106 shares during the quarter. Harbour Investments Inc.’s holdings in State Street were worth $108,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. McAdam LLC raised its holdings in shares of State Street by 1.7% in the second quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after acquiring an additional 111 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of State Street by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager’s stock valued at $515,000 after purchasing an additional 114 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of State Street by 2.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager’s stock valued at $395,000 after purchasing an additional 118 shares during the period. Larson Financial Group LLC grew its position in shares of State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 118 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of State Street by 5.9% in the first quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager’s stock valued at $201,000 after purchasing an additional 126 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STT shares. Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, July 15th. Morgan Stanley boosted their price target on State Street from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. TD Cowen began coverage on State Street in a research report on Thursday, September 25th. They issued a “buy” rating for the company. Finally, Bank of America upped their target price on State Street from $106.00 to $109.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average target price of $125.42.

State Street Trading Up 1.3%

Shares of NYSE STT opened at $114.65 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $113.82 and its two-hundred day moving average price is $103.95. The stock has a market capitalization of $32.53 billion, a P/E ratio of 12.13, a PEG ratio of 1.20 and a beta of 1.46. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $118.24.

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

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.