National Pension Service Has $46.95 Million Stock Position in State Street Co. (NYSE:STT)

National Pension Service increased its stake in State Street Co. (NYSE:STT) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,724 shares of the asset manager’s stock after buying an additional 51,998 shares during the quarter. National Pension Service owned approximately 0.18% of State Street worth $46,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Intact Investment Management Inc. lifted its stake in State Street by 8.7% in the 3rd quarter. Intact Investment Management Inc. now owns 79,560 shares of the asset manager’s stock valued at $7,039,000 after purchasing an additional 6,400 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of State Street by 1.8% in the third quarter. Van ECK Associates Corp now owns 86,131 shares of the asset manager’s stock valued at $7,874,000 after buying an additional 1,543 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of State Street by 2.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 66,822 shares of the asset manager’s stock worth $5,912,000 after acquiring an additional 1,682 shares during the period. Private Wealth Partners LLC increased its holdings in shares of State Street by 12.3% during the 3rd quarter. Private Wealth Partners LLC now owns 4,579 shares of the asset manager’s stock worth $405,000 after acquiring an additional 500 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in State Street by 95.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,399 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 1,656 shares during the period. 87.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on STT shares. Bank of America upped their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Morgan Stanley increased their price target on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Barclays increased their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price target on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.39.

State Street Trading Up 4.2 %

STT opened at $96.81 on Thursday. The stock has a market capitalization of $28.38 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.18 and a beta of 1.46. 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 Co. has a twelve month low of $66.00 and a twelve month high of $98.45. The company has a 50-day simple moving average of $88.68 and a 200 day simple moving average of $81.15.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS. Analysts predict that State Street Co. will post 8.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.