Charter Trust Co buys $1,333,273 stake in State Street Corp (STT)

State Street Corp (STT) : Charter Trust Co scooped up 372 additional shares in State Street Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 19,320 shares of State Street Corp which is valued at $1,333,273.State Street Corp makes up approximately 0.15% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in STT by selling 29,331 shares or 40.42% in the most recent quarter. The Hedge Fund company now holds 43,232 shares of STT which is valued at $3,142,966. State Street Corp makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

State Street Corp opened for trading at $69.7 and hit $70.05 on the upside on Friday, eventually ending the session at $69.01, with a gain of 0.36% or 0.25 points. The heightened volatility saw the trading volume jump to 21,29,666 shares. Company has a market cap of $26,915 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.

Many Wall Street Analysts have commented on State Street Corp. 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 Corp was Downgraded by Sandler O’Neill to ” Hold” on Sep 6, 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.

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