Becker Capital Management Inc buys $44,200,496 stake in State Street Corp (STT)

State Street Corp (STT) : Becker Capital Management Inc scooped up 3,903 additional shares in State Street Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 671,230 shares of State Street Corp which is valued at $44,200,496.State Street Corp makes up approximately 1.74% of Becker Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Nippon Life Insurance Co reduced its stake in STT by selling 1,401 shares or 5.14% in the most recent quarter. The Hedge Fund company now holds 25,866 shares of STT which is valued at $1,703,276. State Street Corp makes up approx 0.04% of Nippon Life Insurance Co’s portfolio.Meeder Asset Management Inc reduced its stake in STT by selling 1,998 shares or 88.76% in the most recent quarter. The Hedge Fund company now holds 253 shares of STT which is valued at $14,735.Middleton Co Incma reduced its stake in STT by selling 45,966 shares or 67.02% in the most recent quarter. The Hedge Fund company now holds 22,621 shares of STT which is valued at $1,317,447. State Street Corp makes up approx 0.29% of Middleton Co Incma’s portfolio.Cornerstone Investment Partners reduced its stake in STT by selling 87,001 shares or 5.7% in the most recent quarter. The Hedge Fund company now holds 1,438,914 shares of STT which is valued at $78,866,876. State Street Corp makes up approx 2.65% of Cornerstone Investment Partners’s portfolio.

State Street Corp opened for trading at $68 and hit $68.63 on the upside on Monday, eventually ending the session at $68.18, with a gain of 0.34% or 0.23 points. The heightened volatility saw the trading volume jump to 19,02,465 shares. Company has a market cap of $26,995 M.

On the company’s financial health, State Street Corp reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.26. The company had revenue of $2573.00 million for the quarter, compared to analysts expectations of $2649.34 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.36 EPS.

State Street Corporation (State Street) 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 financial services and products to institutional investors across the world. Its clients include mutual funds collective investment funds and other investment pools corporate and public retirement plans insurance companies foundations endowments and investment managers. It has two lines of business: Investment Servicing and Investment Management. The Investment Servicing line of business performs core custody and related value-added functions such as providing institutional investors with clearing payment and settlement services. It provides Investment Management services through State Street Global Advisors (SSGA) .SSGA provides an array of investment management investment research and investment advisory services.

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