Vulcan Value Partners Lowers stake in State Street Corp (STT)

State Street Corp (STT) : Vulcan Value Partners reduced its stake in State Street Corp by 3.02% during the most recent quarter end. The investment management company now holds a total of 7,322,481 shares of State Street Corp which is valued at $499,686,103 after selling 228,129 shares in State Street Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.State Street Corp makes up approximately 4.64% of Vulcan Value Partners’s portfolio.

Other Hedge Funds, Including , Element Capital Management reduced its stake in STT by selling 5,363 shares or 30.15% in the most recent quarter. The Hedge Fund company now holds 12,423 shares of STT which is valued at $847,746. State Street Corp makes up approx 0.11% of Element Capital Management’s portfolio.Hightower Advisors reduced its stake in STT by selling 5,026 shares or 41.91% in the most recent quarter. The Hedge Fund company now holds 6,966 shares of STT which is valued at $475,360. State Street Corp makes up approx 0.01% of Hightower Advisors’s portfolio.Quantbot Technologies Lp boosted its stake in STT in the latest quarter, The investment management firm added 27,554 additional shares and now holds a total of 34,369 shares of State Street Corp which is valued at $2,263,199. State Street Corp makes up approx 0.23% of Quantbot Technologies Lp’s portfolio.American Century Companies Inc boosted its stake in STT in the latest quarter, The investment management firm added 962,464 additional shares and now holds a total of 2,976,398 shares of State Street Corp which is valued at $189,745,373. State Street Corp makes up approx 0.21% of American Century Companies Inc’s portfolio.Dowling Yahnke boosted its stake in STT in the latest quarter, The investment management firm added 460 additional shares and now holds a total of 24,227 shares of State Street Corp which is valued at $1,410,980. State Street Corp makes up approx 0.16% of Dowling Yahnke’s portfolio.

State Street Corp closed down -0.12 points or -0.17% at $70.12 with 12,23,850 shares getting traded on Thursday. Post opening the session at $70.54, the shares hit an intraday low of $69.38 and an intraday high of $70.84 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.

Many Wall Street Analysts have commented on State Street Corp. 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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