Gideon Capital Advisors adds State Street Corp (STT) to its portfolio

State Street Corp (STT) : Gideon Capital Advisors added new position in State Street Corp during the most recent quarter end. The investment management firm now holds 53,802 shares of State Street Corp which is valued at $3,671,448 , the company said in a statement filed on Aug 11, 2016 with the SEC.State Street Corp makes up approximately 2.04% of Gideon Capital Advisors’s portfolio.

Other Hedge Funds, Including , Advisors Capital Management reduced its stake in STT by selling 3,161 shares or 7.33% in the most recent quarter. The Hedge Fund company now holds 39,948 shares of STT which is valued at $2,726,052. State Street Corp makes up approx 0.27% of Advisors Capital Management’s portfolio.Blackrock Advisors boosted its stake in STT in the latest quarter, The investment management firm added 42,520 additional shares and now holds a total of 247,907 shares of State Street Corp which is valued at $16,917,174. State Street Corp makes up approx 0.02% of Blackrock Advisors’s portfolio.Bremer Trust National Association reduced its stake in STT by selling 960 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 67,414 shares of STT which is valued at $3,926,191. State Street Corp makes up approx 1.05% of Bremer Trust National Association’s portfolio.

State Street Corp opened for trading at $69.47 and hit $69.5 on the upside on Tuesday, eventually ending the session at $69.32, with a gain of 0.51% or 0.35 points. The heightened volatility saw the trading volume jump to 17,53,756 shares. Company has a market cap of $27,036 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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