6,965 State Street Corporation $STT Shares Bought by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors increased its State Street stake by 9.9% in the third quarter, purchasing 6,965 shares and bringing its holdings to 77,421 shares valued at approximately $13.5 million.
• Institutional investors maintain strong interest in State Street, owning 87.44% of the company; BlackRock, the University of California, UBS Asset Management and Dimensional Fund Advisors were among other major holders that increased or initiated positions.
• State Street recently reported quarterly EPS of $3.69, slightly above estimates, while revenue rose 12.9% year over year. Analysts maintain a “Moderate Buy” consensus with a $189.74 average price target, although BMO and Citi recently lowered their targets.

Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in State Street Corporation (NYSE:STT - Free Report) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,421 shares of the asset manager's stock after buying an additional 6,965 shares during the period. Cantor Fitzgerald Investment Advisors L.P.'s holdings in State Street were worth $13,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of STT. BlackRock Inc. bought a new position in shares of State Street in the second quarter worth $4,139,389,000. State Street Corp raised its stake in shares of State Street by 1.2% during the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager's stock valued at $2,296,098,000 after purchasing an additional 163,362 shares during the period. Regents of The University of California raised its stake in shares of State Street by 15.6% during the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager's stock valued at $1,273,841,000 after purchasing an additional 1,358,923 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of State Street by 4.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,962,274 shares of the asset manager's stock valued at $502,402,000 after purchasing an additional 137,798 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in State Street by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,101,952 shares of the asset manager's stock worth $392,539,000 after purchasing an additional 51,754 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street issued $750 million of fixed-to-floating-rate senior notes, strengthening funding capacity and liquidity. The additional debt may also support balance-sheet flexibility and investment in the company’s asset-servicing and asset-management businesses. State Street Boosts Funding with New Senior Notes
• Neutral Sentiment: Analyst commentary on State Street and Deutsche Bank provides additional sector perspective, but the available report details do not indicate a material change to State Street’s earnings outlook. The company’s latest quarterly results remain a supportive backdrop, with earnings slightly above consensus and revenue up year over year. Analysts Offer Insights on Financial Companies
• Neutral Sentiment: State Street and affiliated investment-management entities reported reducing or exiting substantial-holder positions in several Australian companies, including IDP Education, McMillan Shakespeare, Bega Cheese, Amotiv, Downer EDI, Clarity Pharmaceuticals, FireFly Metals and oOh!media. These disclosures appear to reflect portfolio rebalancing rather than a change in STT’s corporate strategy. State Street Australian Holdings Update
• Neutral Sentiment: State Street Global Advisors Singapore added a market maker to the SPDR Straits Times Index ETF, which could improve trading liquidity and support the ETF franchise, although the direct financial effect on STT is likely limited. SPDR Straits Times Index ETF Adds New Market Maker
• Negative Sentiment: BMO Capital Markets issued a pessimistic forecast for State Street, while Citi cut its price target from $212 to $190. Target reductions can pressure the stock by signaling more limited upside, even though the revised targets may still imply value depending on the current share price. BMO Capital Markets Issues Pessimistic Forecast Citi Cuts State Street Stock Target

State Street Stock Performance

Shares of NYSE STT opened at $168.68 on Thursday. The stock's 50-day moving average is $182.94 and its 200 day moving average is $170.72. The stock has a market cap of $46.34 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 0.77 and a beta of 1.41. State Street Corporation has a 1-year low of $111.63 and a 1-year high of $195.93. The company has a current ratio of 0.57, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.01. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.03 billion. State Street had a return on equity of 16.36% and a net margin of 15.81%. State Street's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.78 earnings per share. On average, sell-side analysts anticipate that State Street Corporation will post 13.77 EPS for the current fiscal year.

Insider Activity

In other news, EVP W. Hu sold 9,758 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president owned 49,794 shares of the company's stock, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings downgraded State Street from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, October 6th. BMO Capital Markets reduced their target price on State Street from $200.00 to $185.00 and set an "outperform" rating for the company in a report on Monday. Evercore set a $200.00 price target on State Street in a research report on Monday, July 20th. Wells Fargo & Company increased their price target on shares of State Street from $196.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Capital One Financial set a $200.00 price objective on shares of State Street in a research report on Tuesday, October 6th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, State Street presently has an average rating of "Moderate Buy" and a consensus target price of $189.74.

State Street Company Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company's businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.

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