State Street Corporation $STT Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its position in shares of State Street Corporation (NYSE:STT) by 32.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 67,897 shares of the asset manager’s stock after buying an additional 16,477 shares during the period. Wealthfront Advisers LLC’s holdings in State Street were worth $7,220,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC grew its holdings in shares of State Street by 3,914.3% in the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after acquiring an additional 274 shares during the last quarter. Larson Financial Group LLC lifted its position in State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after buying an additional 118 shares in the last quarter. Golden State Wealth Management LLC boosted its position in State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 310 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of State Street during the 1st quarter valued at about $46,000. Finally, Wayfinding Financial LLC bought a new stake in State Street in the first quarter worth approximately $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Up 0.8%

NYSE:STT opened at $117.05 on Tuesday. The firm has a market capitalization of $33.21 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.23 and a beta of 1.46. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $118.30. The stock’s fifty day simple moving average is $114.04 and its 200-day simple moving average is $104.84. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. TD Cowen began coverage on shares of State Street in a report on Thursday, September 25th. They set a “buy” rating on the stock. The Goldman Sachs Group boosted their price objective on State Street from $109.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Cowen reissued a “buy” rating on shares of State Street in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, State Street currently has an average rating of “Moderate Buy” and an average price target of $125.92.

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.