State Street Corp (STT) : Tower Bridge Advisors reduced its stake in State Street Corp by 9.41% during the most recent quarter end. The investment management company now holds a total of 184,790 shares of State Street Corp which is valued at $10.9 Million after selling 19,195 shares in State Street Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.State Street Corp makes up approximately 1.38% of Tower Bridge Advisors’s portfolio.
Other Hedge Funds, Including , Guardian Life Insurance Co Of America reduced its stake in STT by selling 428 shares or 22.28% in the most recent quarter. The Hedge Fund company now holds 1,493 shares of STT which is valued at $88,430. State Street Corp makes up approx 0.02% of Guardian Life Insurance Co Of America’s portfolio.Wetherby Asset Management Inc boosted its stake in STT in the latest quarter, The investment management firm added 1,967 additional shares and now holds a total of 11,778 shares of State Street Corp which is valued at $697,611. State Street Corp makes up approx 0.17% of Wetherby Asset Management Inc’s portfolio.Municipal Employees’ Retirement System Of Michigan reduced its stake in STT by selling 20 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 12,290 shares of STT which is valued at $734,450. State Street Corp makes up approx 0.05% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Parkside Financial Bank Trust boosted its stake in STT in the latest quarter, The investment management firm added 88 additional shares and now holds a total of 1,321 shares of State Street Corp which is valued at $78,943. State Street Corp makes up approx 0.04% of Parkside Financial Bank Trust’s portfolio.Ifp Advisors Inc reduced its stake in STT by selling 37 shares or 0.73% in the most recent quarter. The Hedge Fund company now holds 5,015 shares of STT which is valued at $299,696. State Street Corp makes up approx 0.02% of Ifp Advisors Inc’s portfolio.
State Street Corp opened for trading at $61.17 and hit $61.73 on the upside on Friday, eventually ending the session at $61.43, with a gain of 1.17% or 0.71 points. The heightened volatility saw the trading volume jump to 20,97,066 shares. Company has a market cap of $24,323 M.
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. Company shares were Reiterated by UBS on Apr 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .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.
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.