Whipplewood Advisors LLC Sells 21,427 Shares of State Street Corporation $STT

Whipplewood Advisors LLC lowered its stake in State Street Corporation (NYSE:STT) by 97.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 576 shares of the asset manager’s stock after selling 21,427 shares during the quarter. Whipplewood Advisors LLC’s holdings in State Street were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. raised its stake in shares of State Street by 11.7% in the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after buying an additional 106 shares during the period. McAdam LLC raised its stake in shares of State Street by 1.7% in the second quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after buying an additional 111 shares during the period. Meeder Advisory Services Inc. raised its stake in shares of State Street by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager’s stock worth $515,000 after buying an additional 114 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of State Street by 2.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager’s stock worth $395,000 after buying an additional 118 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after buying an additional 118 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

NYSE STT opened at $117.05 on Tuesday. The company has a market cap of $33.21 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.23 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. The business’s 50 day moving average price is $114.04 and its 200-day moving average price is $104.84. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $118.30.

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, beating the consensus estimate of $2.57 by $0.21. The firm had revenue of $13 billion for the quarter, compared to the consensus estimate of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. Sell-side analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on State Street from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Cfra Research raised State Street from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, July 15th. TD Cowen initiated coverage on State Street in a research note on Thursday, September 25th. They set a “buy” rating on the stock. Citigroup lifted their target price on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Friday. Finally, BMO Capital Markets initiated coverage on State Street in a research note on Friday, October 3rd. They set an “outperform” rating and a $130.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average price target of $125.92.

State Street Company 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.