Asset Management One Co. Ltd. Raises Stock Holdings in State Street Co. (NYSE:STT)

Asset Management One Co. Ltd. raised its stake in State Street Co. (NYSE:STT) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,040 shares of the asset manager’s stock after purchasing an additional 20,183 shares during the period. Asset Management One Co. Ltd.’s holdings in State Street were worth $12,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in STT. Capital International Investors grew its position in shares of State Street by 0.5% in the 1st quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after buying an additional 31,314 shares during the last quarter. LSV Asset Management grew its holdings in State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after purchasing an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd increased its position in shares of State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of State Street by 3.1% during the 2nd quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after purchasing an additional 105,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of State Street by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after purchasing an additional 259,729 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Performance

NYSE STT opened at $96.81 on Thursday. The firm has a market capitalization of $28.38 billion, a P/E ratio of 15.29, a PEG ratio of 1.18 and a beta of 1.46. The stock has a 50-day simple moving average of $88.68 and a two-hundred day simple moving average of $81.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $66.00 and a fifty-two week high of $98.45.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the business earned $1.93 earnings per share. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities analysts forecast that State Street Co. will post 8.38 earnings per share for the current year.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on STT. Evercore ISI upped their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company boosted their target price on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup raised their price target on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and an average price target of $91.39.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.