Leeward Financial Partners LLC Purchases New Position in State Street Corporation $STT

Key Points

• Leeward Financial Partners purchased 18,144 shares of State Street valued at approximately $3.17 million, while institutional investors collectively own 87.44% of the company.
• Analysts maintain a generally favorable outlook, with 10 Buy and six Hold ratings, an overall “Moderate Buy” consensus, and an average price target of $189.74.
• State Street slightly exceeded quarterly earnings expectations with $3.69 in EPS, while revenue reached $4 billion and increased 12.9% year over year.

Leeward Financial Partners LLC purchased a new stake in State Street Corporation (NYSE:STT - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,144 shares of the asset manager's stock, valued at approximately $3,168,000.

A number of other institutional investors also recently modified their holdings of STT. Philadelphia Investment Partners LLC bought a new stake in shares of State Street during the 2nd quarter worth $26,000. Bell Investment Advisors Inc bought a new position in State Street in the 2nd quarter worth $28,000. Elevation Wealth Partners LLC raised its holdings in State Street by 153.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager's stock worth $30,000 after acquiring an additional 106 shares during the period. Continuum Advisory LLC bought a new position in State Street in the 2nd quarter worth $30,000. Finally, Kelleher Financial Advisors acquired a new position in State Street during the 2nd quarter worth $33,000. Institutional investors own 87.44% of the company's stock.

Wall Street Analyst Weigh In

STT has been the subject of a number of recent analyst reports. Capital One Financial set a $200.00 price target on shares of State Street in a report on Tuesday, October 6th. Barclays lifted their price objective on State Street from $165.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their price objective on State Street from $187.00 to $187.50 and gave the stock a "neutral" rating in a research note on Friday, October 2nd. Citigroup cut their price objective on State Street from $212.00 to $190.00 and set a "buy" rating for the company in a research report on Friday, October 16th. Finally, Evercore set a $200.00 target price on State Street in a research note on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $189.74.

State Street Price Performance

Shares of STT stock opened at $167.91 on Monday. The stock has a 50 day moving average of $182.01 and a two-hundred day moving average of $171.26. 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 Corporation has a 12 month low of $111.63 and a 12 month high of $195.93. The company has a market capitalization of $46.13 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.78 and a beta of 1.41.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.01. The company had revenue of $4 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.78 EPS. As a group, equities analysts expect that State Street Corporation will post 13.77 EPS for the current year.

Insider Activity at State Street

In related news, CEO Ronald O’Hanley sold 14,554 shares of the firm's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $164.60, for a total value of $2,395,588.40. Following the completion of the transaction, the chief executive officer directly owned 215,905 shares of the company's stock, valued at $35,537,963. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.27% of the company's stock.

State Street 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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