Advisors Asset Management Inc. Has $2.19 Million Stock Holdings in State Street Co. (NYSE:STT)

Advisors Asset Management Inc. boosted its holdings in shares of State Street Co. (NYSE:STT) by 9.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,696 shares of the asset manager’s stock after acquiring an additional 2,124 shares during the period. Advisors Asset Management Inc.’s holdings in State Street were worth $2,185,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LSV Asset Management grew its holdings in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the period. Metropolis Capital Ltd lifted its position in State Street by 3.9% in the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock valued at $379,209,000 after acquiring an additional 161,466 shares in the last quarter. Cooke & Bieler LP lifted its position in State Street by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after acquiring an additional 105,222 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in State Street by 9.4% in 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 acquiring an additional 259,729 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in State Street by 11.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,901,788 shares of the asset manager’s stock valued at $140,732,000 after acquiring an additional 191,679 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $97.50 on Monday. The company’s 50 day moving average price is $91.29 and its two-hundred day moving average price is $83.01. State Street Co. has a 12-month low of $69.56 and a 12-month high of $98.45. The firm has a market cap of $28.58 billion, a PE ratio of 15.40, a PEG ratio of 1.19 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 (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the business posted $1.93 EPS. The business’s revenue was up 21.1% compared to the same quarter last year. Equities research analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STT. 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 report on Friday, November 15th. Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their target price 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. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.11.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

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.