State Street Corp (STT) : Fayez Sarofim Co reduced its stake in State Street Corp by 2.86% during the most recent quarter end. The investment management company now holds a total of 2,766,410 shares of State Street Corp which is valued at $217,190,849 after selling 81,358 shares in State Street Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.State Street Corp makes up approximately 1.23% of Fayez Sarofim Co’s portfolio.
Other Hedge Funds, Including , Clinton Group Inc reduced its stake in STT by selling 128,160 shares or 82.67% in the most recent quarter. The Hedge Fund company now holds 26,861 shares of STT which is valued at $2,108,857. State Street Corp makes up approx 0.10% of Clinton Group Inc’s portfolio.Cadence Capital Management reduced its stake in STT by selling 43,229 shares or 75.86% in the most recent quarter. The Hedge Fund company now holds 13,759 shares of STT which is valued at $1,055,866. State Street Corp makes up approx 0.08% of Cadence Capital Management’s portfolio.Sustainable Growth Advisers Lp reduced its stake in STT by selling 929,137 shares or 43.64% in the most recent quarter. The Hedge Fund company now holds 1,200,043 shares of STT which is valued at $90,651,248. State Street Corp makes up approx 1.77% of Sustainable Growth Advisers Lp’s portfolio.High Pointe Capital Management reduced its stake in STT by selling 5,000 shares or 32.64% in the most recent quarter. The Hedge Fund company now holds 10,320 shares of STT which is valued at $746,549. State Street Corp makes up approx 1.34% of High Pointe Capital Management’s portfolio.
State Street Corp closed down -0.02 points or -0.03% at $78.5 with 26,68,317 shares getting traded on Monday. Post opening the session at $78.4, the shares hit an intraday low of $77.67 and an intraday high of $78.91 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, State Street Corp reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.25. The company had revenue of $2754.00 million for the quarter, compared to analysts expectations of $2721.26 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS.
Many Wall Street Analysts have commented on State Street Corp. State Street Corp was Upgraded by Morgan Stanley to ” Equal-Weight” on Nov 14, 2016. State Street Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Oct 5, 2016. Company shares were Reiterated by Deutsche Bank on Sep 9, 2016 to “Hold”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .
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.