Fmr LLC Acquires 833,679 Shares of State Street Co. (NYSE:STT)

Fmr LLC boosted its stake in shares of State Street Co. (NYSE:STT) by 15.8% during the third quarter, Holdings Channel reports. The fund owned 6,112,758 shares of the asset manager’s stock after acquiring an additional 833,679 shares during the period. Fmr LLC’s holdings in State Street were worth $540,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of State Street in the 3rd quarter valued at $3,219,000. Qsemble Capital Management LP acquired a new stake in State Street in the third quarter worth about $3,686,000. Harvest Fund Management Co. Ltd raised its holdings in State Street by 27,157.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,908 shares of the asset manager’s stock worth $169,000 after purchasing an additional 1,901 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in State Street by 287.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,231 shares of the asset manager’s stock worth $1,082,000 after purchasing an additional 9,072 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC acquired a new position in State Street during the 3rd quarter valued at about $204,000. Institutional investors and hedge funds 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 on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,460 shares of company stock worth $2,499,860. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays increased their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price objective on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.11.

State Street Trading Down 0.3 %

Shares of NYSE:STT opened at $98.51 on Friday. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.22 and a beta of 1.46. State Street Co. has a 12 month low of $70.20 and a 12 month high of $99.50. The company’s fifty day simple moving average is $92.42 and its 200 day simple moving average is $83.70. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. As a group, research analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

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.