State Street Corp (STT) : Spinnaker Trust reduced its stake in State Street Corp by 9.09% during the most recent quarter end. The investment management company now holds a total of 7,048 shares of State Street Corp which is valued at $464,111 after selling 705 shares in State Street Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.State Street Corp makes up approximately 0.06% of Spinnaker Trust’s portfolio.
Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in STT by selling 1,597 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 117,875 shares of STT which is valued at $7,762,069. State Street Corp makes up approx 0.03% of Aberdeen Asset Management Plcuk’s portfolio.Candriam Luxembourg S.c.a. boosted its stake in STT in the latest quarter, The investment management firm added 4,153 additional shares and now holds a total of 16,882 shares of State Street Corp which is valued at $1,076,228. State Street Corp makes up approx 0.03% of Candriam Luxembourg S.c.a.’s portfolio.Hermes Investment Management Ltd boosted its stake in STT in the latest quarter, The investment management firm added 68,900 additional shares and now holds a total of 192,298 shares of State Street Corp which is valued at $11,199,436. State Street Corp makes up approx 0.22% of Hermes Investment Management Ltd’s portfolio.Gateway Investment Advisers reduced its stake in STT by selling 582 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 31,872 shares of STT which is valued at $1,746,904. State Street Corp makes up approx 0.01% of Gateway Investment Advisers’s portfolio. Centurylink Investment Management Co added STT to its portfolio by purchasing 3,391 company shares during the most recent quarter which is valued at $180,503. State Street Corp makes up approx 0.06% of Centurylink Investment Management Co’s portfolio.
State Street Corp closed down -0.06 points or -0.09% at $65.79 with 25,29,420 shares getting traded on Thursday. Post opening the session at $65.77, the shares hit an intraday low of $65.4 and an intraday high of $66.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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.