3,035 Shares in State Street Corporation $STT Purchased by MGO One Seven LLC

Key Points

• MGO One Seven LLC purchased 3,035 shares of State Street Corporation for approximately $323,000 in the second quarter, as reported in their 13F filing.
• State Street's recent quarterly earnings showed an EPS of $2.78, surpassing analysts' estimates of $2.57, with a year-over-year revenue increase of 8.8%.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with a target price of $122.83, following various upgrades by research firms.

MGO One Seven LLC acquired a new position in shares of State Street Corporation (NYSE:STT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,035 shares of the asset manager's stock, valued at approximately $323,000.

A number of other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in shares of State Street by 9.0% during the first 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 period. Northern Trust Corp boosted its holdings in shares of State Street by 2.8% during the first quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager's stock worth $381,770,000 after acquiring an additional 115,751 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of State Street by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager's stock worth $274,732,000 after acquiring an additional 14,011 shares during the period. Eastern Bank boosted its holdings in shares of State Street by 6,967.4% during the first 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of State Street by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,713,415 shares of the asset manager's stock worth $242,932,000 after acquiring an additional 49,353 shares during the period. Institutional investors own 87.44% of the company's stock.

Insider Buying and Selling

In other State Street news, EVP Michael L. Richards sold 990 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total transaction of $108,197.10. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STT has been the subject of a number of research analyst reports. Cfra Research upgraded State Street from a "hold" rating to a "moderate buy" rating in a report on Tuesday, July 15th. Zacks Research upgraded State Street from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Bank of America lifted their price target on shares of State Street from $106.00 to $109.00 and gave the company an "underperform" rating in a research report on Wednesday, July 16th. Evercore ISI lifted their price target on shares of State Street from $117.00 to $128.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Finally, The Goldman Sachs Group lifted their price target on shares of State Street from $109.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Two research 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 issued a Sell rating to the company. According to data from MarketBeat.com, State Street presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.83.

State Street Stock Down 1.5%

Shares of STT opened at $111.27 on Monday. State Street Corporation has a one year low of $72.81 and a one year high of $118.24. The company has a market cap of $31.57 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.14 and a beta of 1.46. 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 firm has a 50 day simple moving average of $113.60 and a two-hundred day simple moving average of $103.27.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the business earned $2.26 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. Research analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

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.

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