Fayez Sarofim Co Lowers stake in State Street Corp (STT)

State Street Corp (STT) : Fayez Sarofim Co reduced its stake in State Street Corp by 1.91% during the most recent quarter end. The investment management company now holds a total of 2,847,768 shares of State Street Corp which is valued at $194,331,688 after selling 55,598 shares in State Street Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.State Street Corp makes up approximately 1.05% of Fayez Sarofim Co’s portfolio.

Other Hedge Funds, Including , Boston Research Management Inc boosted its stake in STT in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 33,916 shares of State Street Corp which is valued at $2,314,428. State Street Corp makes up approx 1.35% of Boston Research Management Inc’s portfolio.Somerville Kurt F reduced its stake in STT by selling 3,950 shares or 11.14% in the most recent quarter. The Hedge Fund company now holds 31,504 shares of STT which is valued at $2,158,024. State Street Corp makes up approx 0.47% of Somerville Kurt F’s portfolio. Reilly Financial Advisors added STT to its portfolio by purchasing 132 company shares during the most recent quarter which is valued at $8,692.Checchi Capital Advisers reduced its stake in STT by selling 326 shares or 7.6% in the most recent quarter. The Hedge Fund company now holds 3,964 shares of STT which is valued at $230,863. State Street Corp makes up approx 0.06% of Checchi Capital Advisers’s portfolio.

State Street Corp closed down -0.03 points or -0.04% at $69.02 with 20,37,262 shares getting traded on Friday. Post opening the session at $68.75, the shares hit an intraday low of $68.61 and an intraday high of $69.33 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

State Street Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on State Street Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.