St Germain D J Co Inc buys $778,762 stake in State Street Corp (STT)

State Street Corp (STT) : St Germain D J Co Inc scooped up 1,718 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 21, 2016. The investment management firm now holds a total of 12,583 shares of State Street Corp which is valued at $778,762.State Street Corp makes up approximately 0.11% of St Germain D J Co Inc’s portfolio.

State Street Corp opened for trading at $63.08 and hit $64.69 on the upside on Wednesday, eventually ending the session at $63.93, with a gain of 2.32% or 1.45 points. The heightened volatility saw the trading volume jump to 34,12,196 shares. Company has a market cap of $25,573 M.

Other Hedge Funds, Including , Jolley Asset Management boosted its stake in STT in the latest quarter, The investment management firm added 2,147 additional shares and now holds a total of 50,031 shares of State Street Corp which is valued at $3,096,419. State Street Corp makes up approx 2.71% of Jolley Asset Management’s portfolio.Cornerstone Investment Partners boosted its stake in STT in the latest quarter, The investment management firm added 124,880 additional shares and now holds a total of 1,525,915 shares of State Street Corp which is valued at $94,438,879. State Street Corp makes up approx 2.99% of Cornerstone Investment Partners’s portfolio.Alpha Windward boosted its stake in STT in the latest quarter, The investment management firm added 33 additional shares and now holds a total of 3,512 shares of State Street Corp which is valued at $209,210. State Street Corp makes up approx 0.15% of Alpha Windward’s portfolio.Webster Bank N. A. boosted its stake in STT in the latest quarter, The investment management firm added 582 additional shares and now holds a total of 3,942 shares of State Street Corp which is valued at $234,825. State Street Corp makes up approx 0.04% of Webster Bank N. A.’s portfolio.First United Bank Trust reduced its stake in STT by selling 429 shares or 7.01% in the most recent quarter. The Hedge Fund company now holds 5,692 shares of STT which is valued at $339,072. State Street Corp makes up approx 0.31% of First United Bank Trust’s portfolio.

On the company’s financial health, State Street Corp reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.90. The company had revenue of $2574.00 million for the quarter, compared to analysts expectations of $2552.69 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 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.

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