Asset Management One Co. Ltd. Boosts Stock Position in State Street Co. (NYSE:STT)

Asset Management One Co. Ltd. increased its holdings in shares of State Street Co. (NYSE:STT) by 17.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 137,040 shares of the asset manager’s stock after acquiring an additional 20,183 shares during the period. Asset Management One Co. Ltd.’s holdings in State Street were worth $12,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its position in State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after acquiring an additional 129 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of State Street by 9.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares in the last quarter. Rockland Trust Co. raised its position in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after purchasing an additional 150 shares during the last quarter. Mather Group LLC. lifted its stake in State Street by 10.9% in the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after buying an additional 158 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in State Street by 13.0% in the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $119,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Up 4.2 %

STT stock opened at $96.81 on Thursday. State Street Co. has a one year low of $66.00 and a one year high of $98.45. The firm has a market cap of $28.38 billion, a PE ratio of 15.29, a PEG ratio of 1.18 and a beta of 1.46. The firm’s 50 day moving average price is $88.68 and its 200-day moving average price is $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 (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 EPS. On average, equities research analysts anticipate that State Street Co. will post 8.38 EPS for the current year.

Analyst Ratings Changes

STT has been the subject of a number of research analyst reports. StockNews.com raised State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Evercore ISI raised their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America raised their price target on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Barclays upped their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, State Street currently has a consensus rating of “Hold” and a consensus price target of $91.39.

About State Street

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.