State Street Corporation $STT Stock Position Raised by L & S Advisors Inc

L & S Advisors Inc boosted its position in shares of State Street Corporation (NYSE:STT) by 60.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,766 shares of the asset manager’s stock after purchasing an additional 29,329 shares during the period. L & S Advisors Inc’s holdings in State Street were worth $8,270,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of State Street during the fourth quarter valued at $296,000. Stephens Inc. AR lifted its stake in State Street by 40.4% in the 1st quarter. Stephens Inc. AR now owns 3,793 shares of the asset manager’s stock worth $340,000 after acquiring an additional 1,092 shares in the last quarter. Sigma Planning Corp purchased a new stake in State Street in the 1st quarter worth about $591,000. Apollon Wealth Management LLC boosted its position in State Street by 2.0% during the 1st quarter. Apollon Wealth Management LLC now owns 10,252 shares of the asset manager’s stock worth $918,000 after acquiring an additional 202 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in State Street by 10.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,299 shares of the asset manager’s stock valued at $206,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $118.27 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.59 and a quick ratio of 0.57. State Street Corporation has a one year low of $72.81 and a one year high of $122.69. The company has a fifty day moving average price of $115.01 and a 200 day moving average price of $107.87. The stock has a market cap of $33.03 billion, a P/E ratio of 12.52, a PEG ratio of 1.24 and a beta of 1.47.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.21. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 EPS. Analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

Insider Buying and Selling at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the sale, the executive vice president owned 38,626 shares in the company, valued at $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on STT shares. Morgan Stanley increased their price target on shares of State Street from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Wells Fargo & Company increased their price target on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Cowen reiterated a “buy” rating on shares of State Street in a report on Tuesday, October 21st. Truist Financial reduced their target price on State Street from $133.00 to $131.00 and set a “buy” rating for the company in a report on Monday, October 20th. Finally, Evercore ISI upped their price objective on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.92.

About State Street

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.