Corsair Capital Management Lowers stake in State Street Corp (STT)

State Street Corp (STT) : Corsair Capital Management reduced its stake in State Street Corp by 24.8% during the most recent quarter end. The investment management company now holds a total of 29,642 shares of State Street Corp which is valued at $2,030,477 after selling 9,774 shares in State Street Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.State Street Corp makes up approximately 0.30% of Corsair Capital Management’s portfolio.

Other Hedge Funds, Including , Pax World Management reduced its stake in STT by selling 32,400 shares or 87.92% in the most recent quarter. The Hedge Fund company now holds 4,452 shares of STT which is valued at $304,962. State Street Corp makes up approx 0.02% of Pax World Management’s portfolio. Gsa Capital Partners Llp added STT to its portfolio by purchasing 58,268 company shares during the most recent quarter which is valued at $3,959,311. State Street Corp makes up approx 0.21% of Gsa Capital Partners Llp’s portfolio.Signaturefd boosted its stake in STT in the latest quarter, The investment management firm added 286 additional shares and now holds a total of 1,166 shares of State Street Corp which is valued at $76,699. State Street Corp makes up approx 0.01% of Signaturefd’s portfolio.Wendell David Associates Inc reduced its stake in STT by selling 2,100 shares or 29.15% in the most recent quarter. The Hedge Fund company now holds 5,104 shares of STT which is valued at $294,858. State Street Corp makes up approx 0.06% of Wendell David Associates Inc’s portfolio. Fox Run Management L.l.c. added STT to its portfolio by purchasing 10,800 company shares during the most recent quarter which is valued at $623,916. State Street Corp makes up approx 0.29% of Fox Run Management L.l.c.’s portfolio.

State Street Corp opened for trading at $68.58 and hit $69.3 on the upside on Monday, eventually ending the session at $69.21, with a gain of 1.42% or 0.97 points. The heightened volatility saw the trading volume jump to 14,89,831 shares. Company has a market cap of $26,993 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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