State Street Corporation $STT Stock Holdings Decreased by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc lessened its position in shares of State Street Corporation (NYSE:STT - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 325,016 shares of the asset manager's stock after selling 29,760 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.12% of State Street worth $56,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaCore Capital LLC increased its position in State Street by 24.8% during the third quarter. AlphaCore Capital LLC now owns 7,122 shares of the asset manager's stock worth $1,243,000 after buying an additional 1,413 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in shares of State Street in the third quarter valued at $161,000. Allspring Global Investments Holdings LLC lifted its position in shares of State Street by 9.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,571 shares of the asset manager's stock valued at $2,370,000 after acquiring an additional 1,176 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of State Street by 11.2% during the third quarter. Brighton Jones LLC now owns 5,716 shares of the asset manager's stock valued at $998,000 after acquiring an additional 575 shares during the last quarter. Finally, Ethic Inc. boosted its stake in shares of State Street by 15.8% during the third quarter. Ethic Inc. now owns 94,698 shares of the asset manager's stock valued at $16,533,000 after acquiring an additional 12,894 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STT. Weiss Ratings lowered shares of State Street from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, October 6th. Zacks Research downgraded shares of State Street from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Morgan Stanley boosted their price objective on shares of State Street from $183.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Capital One Financial set a $200.00 price objective on shares of State Street in a research note on Tuesday, October 6th. Finally, TD Cowen assumed coverage on shares of State Street in a research note on Thursday, October 8th. They set a "buy" rating and a $205.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $193.97.

State Street Stock Up 3.3%

Shares of STT opened at $171.09 on Tuesday. The firm has a market cap of $46.55 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38. The company's fifty day moving average is $177.43 and its two-hundred day moving average is $159.89. State Street Corporation has a fifty-two week low of $111.63 and a fifty-two week high of $195.93. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.02.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, topping analysts' consensus estimates of $3.68 by $0.01. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.03 billion. State Street had a return on equity of 16.11% and a net margin of 15.81%. The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.78 EPS. Analysts forecast that State Street Corporation will post 13.78 earnings per share for the current year.

Insider Transactions at State Street

In other news, CEO Hanley Ronald P. O sold 14,554 shares of the firm's stock in a transaction dated 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 in the company, valued at $35,537,963. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of State Street stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $168.63, for a total value of $1,197,104.37. Following the completion of the transaction, the executive vice president directly owned 42,695 shares in the company, valued at $7,199,657.85. This 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 currently owned by insiders.

About State Street

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792 as Union Bank, it has a long history serving institutional clients and is among the oldest financial institutions in the United States.

The company provides investment servicing, including custody, fund administration, accounting, and related middle- and back-office services. Its clients include asset managers, pension funds, insurers, and other financial institutions.

Through State Street Investment Management, the company also offers investment management services and investment products, including the SPDR family of exchange-traded funds.

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