State Street Co. (NYSE:STT) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in State Street Co. (NYSE:STT - Free Report) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,169,070 shares of the asset manager's stock after buying an additional 41,442 shares during the quarter. Geode Capital Management LLC owned about 2.45% of State Street worth $632,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV lifted its position in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock valued at $6,607,000 after buying an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager's stock valued at $12,124,000 after acquiring an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in State Street by 39.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager's stock worth $10,794,000 after purchasing an additional 41,180 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager's stock worth $6,069,000 after purchasing an additional 20,968 shares during the period. Finally, LSV Asset Management increased its holdings in 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 purchasing an additional 1,238,251 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred 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. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 in the last ninety days. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on STT. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on State Street from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $90.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, State Street currently has a consensus rating of "Hold" and an average price target of $97.32.

State Street Stock Performance

Shares of State Street stock traded down $0.14 on Friday, reaching $100.48. 1,922,570 shares of the company were exchanged, compared to its average volume of 2,210,929. The firm has a market cap of $29.45 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.23 and a beta of 1.44. State Street Co. has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company's 50-day moving average is $94.42 and its two-hundred day moving average is $85.08.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company earned $1.93 earnings per share. The firm's revenue for the quarter was up 21.1% on a year-over-year basis. As a group, research analysts expect that State Street Co. will post 8.42 earnings per share 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.