State Street Corp (STT) : Guinness Atkinson Asset Management Inc scooped up 12,000 additional shares in State Street Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 92,134 shares of State Street Corp which is valued at $5,488,422.State Street Corp makes up approximately 3.36% of Guinness Atkinson Asset Management Inc’s portfolio.
State Street Corp closed down -0.51 points or -0.85% at $59.57 with 24,77,079 shares getting traded on Friday. Post opening the session at $60.05, the shares hit an intraday low of $59.18 and an intraday high of $60.35 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Other Hedge Funds, Including , Stonebridge Capital Management Inc boosted its stake in STT in the latest quarter, The investment management firm added 11,225 additional shares and now holds a total of 43,260 shares of State Street Corp which is valued at $2,576,998. State Street Corp makes up approx 1.09% of Stonebridge Capital Management Inc’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in STT in the latest quarter, The investment management firm added 10,032 additional shares and now holds a total of 92,856 shares of State Street Corp which is valued at $5,531,432. State Street Corp makes up approx 0.13% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Lenox Wealth Advisors reduced its stake in STT by selling 55 shares or 67.9% in the most recent quarter. The Hedge Fund company now holds 26 shares of STT which is valued at $1,549. Trust Co Of Virginia Va sold out all of its stake in STT during the most recent quarter. The investment firm sold 5,612 shares of STT which is valued $317,471.
On the company’s financial health, State Street Corp reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $1.18. The company had revenue of $2538.00 million for the quarter, compared to analysts expectations of $2617.79 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 EPS.
Many Wall Street Analysts have commented on State Street Corp. Shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Sector Perform” and Lowered the Price Target to $ 65 from a previous price target of $70 .State Street Corp was Downgraded by Keefe Bruyette to ” Underperform” on Mar 28, 2016. Company shares were Reiterated by Deutsche Bank on Feb 25, 2016 to “Hold”, Firm has raised the Price Target to $ 56 from a previous price target of $52 .
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.