State Street Corporation $STT Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC decreased its position in State Street Corporation (NYSE:STT) by 6.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,878 shares of the asset manager’s stock after selling 200 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in State Street were worth $306,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of STT. First Pacific Financial acquired a new stake in State Street in the first quarter valued at $25,000. Capital Analysts LLC grew its holdings in State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 274 shares during the last quarter. Larson Financial Group LLC grew its holdings in State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 118 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in State Street by 186.7% in the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 310 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in State Street in the first quarter valued at $46,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on STT. Morgan Stanley upped their price objective on State Street from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday. Cfra Research upgraded State Street from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, July 15th. Truist Financial reduced their price objective on State Street from $133.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup upgraded State Street from a “neutral” rating to a “buy” rating and upped their price objective for the company from $115.00 to $130.00 in a research report on Friday, September 5th. Finally, TD Cowen began coverage on State Street in a research report on Thursday, September 25th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Moderate Buy” and an average price target of $125.42.

State Street Stock Performance

NYSE STT opened at $115.19 on Tuesday. The business’s 50-day moving average price is $113.71 and its 200 day moving average price is $103.55. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $118.24. The company has a market capitalization of $32.68 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a return on equity of 13.37% and a net margin of 13.14%.The firm had revenue of $13 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Profile

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.