Today: Today, TIAA CREF Trust Co. FSB MO cuts its investment of stake in State Street Corp. (STT)

Today, TIAA CREF Trust Co. FSB MO cuts its investment of stake in State Street Corp. (STT)

TIAA CREF Trust Co. FSB MO cut its stake in State Street Corp. (NYSE:STT) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,281 shares of the company’s stock after selling 1,155 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in State Street Corp. were worth $2,735,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in STT. Emerald Acquisition Ltd. purchased a new stake in State Street Corp. during the second quarter valued at approximately $223,563,000. Evercore Trust Company N.A. purchased a new stake in State Street Corp. during the second quarter valued at approximately $152,044,000. PNC Financial Services Group Inc. boosted its stake in State Street Corp. by 182.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,956,066 shares of the company’s stock valued at $136,200,000 after buying an additional 1,264,029 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in State Street Corp. during the second quarter valued at approximately $56,266,000. Finally, American Century Companies Inc. boosted its stake in State Street Corp. by 47.8% in the second quarter. American Century Companies Inc. now owns 2,976,398 shares of the company’s stock valued at $160,487,000 after buying an additional 962,464 shares during the last quarter. 86.32% of the stock is owned by hedge funds and other institutional investors.

Shares of State Street Corp. (NYSE:STT) traded up 0.20% during trading on Friday, reaching $78.44. 514,897 shares of the company’s stock were exchanged. State Street Corp. has a 52-week low of $50.60 and a 52-week high of $79.27. The firm has a market capitalization of $30.26 billion, a P/E ratio of 16.05 and a beta of 1.32. The company has a 50 day moving average of $72.92 and a 200 day moving average of $65.80.

State Street Corp. (NYSE:STT) last released its earnings results on Wednesday, October 26th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.10. State Street Corp. had a net margin of 19.97% and a return on equity of 11.59%. The company earned $2.62 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that State Street Corp. will post $5.09 earnings per share for the current fiscal year.

Several analysts have recently issued reports on STT shares. Sandler O’Neill cut shares of State Street Corp. from a “buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research note on Tuesday, September 6th. Jefferies Group reissued a “buy” rating and set a $74.00 price objective (up from $63.00) on shares of State Street Corp. in a research note on Thursday, July 28th. Credit Suisse Group AG reissued a “hold” rating and set a $74.00 price objective on shares of State Street Corp. in a research note on Tuesday, September 6th. Deutsche Bank AG boosted their price objective on shares of State Street Corp. from $60.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, Keefe, Bruyette & Woods raised shares of State Street Corp. from an “underperform” rating to a “market perform” rating in a research note on Wednesday, October 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $72.81.

In other State Street Corp. news, EVP Karen C. Keenan sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $70.57, for a total value of $70,570.00. Following the completion of the sale, the executive vice president now owns 48,547 shares in the company, valued at approximately $3,425,961.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey N. Carp sold 2,926 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $77.38, for a total transaction of $226,413.88. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

State Street Corp. Company Profile

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

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