State Street Corporation $STT Shares Newly Bought by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super purchased a new 26,073-share stake in State Street during the third quarter, valued at approximately $4.55 million. Institutional investors collectively own 87.44% of the company’s shares.
• State Street’s CEO and an executive vice president sold shares under pre-arranged Rule 10b5-1 plans. The CEO sold 14,554 shares for about $2.40 million, while the EVP sold 7,099 shares for about $1.20 million.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $190.03. In its latest reported quarter, State Street narrowly beat EPS expectations ($3.69 versus $3.68) as revenue rose 12.9% year over year.

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of State Street Corporation (NYSE:STT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 26,073 shares of the asset manager's stock, valued at approximately $4,552,000.

Other large investors have also made changes to their positions in the company. Western Wealth Management LLC lifted its stake in shares of State Street by 3.1% in the 1st quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager's stock valued at $253,000 after purchasing an additional 60 shares during the last quarter. apricus wealth LLC boosted its holdings in State Street by 0.3% in the third quarter. apricus wealth LLC now owns 23,155 shares of the asset manager's stock worth $4,043,000 after purchasing an additional 60 shares in the last quarter. Genesee Capital Advisors LLC increased its position in State Street by 1.2% during the third quarter. Genesee Capital Advisors LLC now owns 5,601 shares of the asset manager's stock worth $978,000 after buying an additional 68 shares during the last quarter. SYM FINANCIAL Corp increased its position in State Street by 2.6% during the third quarter. SYM FINANCIAL Corp now owns 2,909 shares of the asset manager's stock worth $508,000 after buying an additional 73 shares during the last quarter. Finally, Community Financial Services Group LLC raised its holdings in State Street by 40.7% during the third quarter. Community Financial Services Group LLC now owns 304 shares of the asset manager's stock valued at $53,000 after buying an additional 88 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Activity at State Street

In other State Street news, CEO Hanley Ronald P. O sold 14,554 shares of State Street stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 215,905 shares of the company's stock, valued at $35,537,963. The trade was a 6.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the company's stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $168.63, for a total value of $1,197,104.37. Following the transaction, the executive vice president owned 42,695 shares of the company's stock, valued at approximately $7,199,657.85. This trade represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STT shares. Capital One Financial set a $200.00 price target on State Street in a research report on Tuesday, October 6th. Evercore set a $200.00 price objective on State Street in a report on Monday, July 20th. JPMorgan Chase & Co. raised their price objective on State Street from $187.50 to $192.50 and gave the company a "neutral" rating in a research note on Friday, October 30th. Truist Financial cut their price objective on State Street from $190.00 to $171.00 and set a "hold" rating on the stock in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada reduced their target price on State Street from $196.00 to $175.00 and set a "sector perform" rating for the company in a report on Thursday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $190.03.

State Street Stock Up 0.1%

State Street stock opened at $169.47 on Wednesday. The firm has a market cap of $46.11 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.78 and a beta of 1.38. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.59 and a quick ratio of 0.59. State Street Corporation has a fifty-two week low of $111.63 and a fifty-two week high of $195.93. The firm has a fifty day moving average price of $179.39 and a two-hundred day moving average price of $159.09.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.01. State Street had a return on equity of 16.11% and a net margin of 15.81%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the business posted $2.78 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that State Street Corporation will post 13.77 earnings per share for the current year.

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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