Meeder Asset Management Inc. Has $18.53 Million Stock Holdings in State Street Co. (NYSE:STT)

Meeder Asset Management Inc. grew its holdings in State Street Co. (NYSE:STT - Free Report) by 26.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 209,391 shares of the asset manager's stock after purchasing an additional 44,330 shares during the quarter. State Street comprises about 1.2% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 17th largest position. Meeder Asset Management Inc. owned 0.07% of State Street worth $18,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pathstone Holdings LLC boosted its stake in State Street by 1.2% in the third quarter. Pathstone Holdings LLC now owns 74,575 shares of the asset manager's stock worth $6,598,000 after purchasing an additional 856 shares in the last quarter. Adero Partners LLC acquired a new position in State Street in the third quarter worth $248,000. Natixis Advisors LLC boosted its stake in State Street by 1.2% in the third quarter. Natixis Advisors LLC now owns 238,952 shares of the asset manager's stock worth $21,140,000 after purchasing an additional 2,772 shares in the last quarter. Coastline Trust Co acquired a new position in State Street in the third quarter worth $44,000. Finally, Empowered Funds LLC raised its position in shares of State Street by 11.4% during the third quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager's stock worth $432,000 after acquiring an additional 504 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 directly owns 55,108 shares of the company's stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

State Street Trading Down 1.5 %

NYSE:STT traded down $1.41 on Tuesday, reaching $94.71. The company's stock had a trading volume of 1,781,929 shares, compared to its average volume of 2,212,478. State Street Co. has a 1-year low of $68.99 and a 1-year high of $98.45. 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 firm has a market cap of $27.76 billion, a PE ratio of 14.96, a PEG ratio of 1.18 and a beta of 1.46. The business's 50-day moving average price is $90.48 and its two-hundred day moving average price is $82.57.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. Equities research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STT. StockNews.com upgraded State Street from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on State Street from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup boosted their target price on State Street from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. The Goldman Sachs Group boosted their target price on State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Barclays boosted their target price on State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Two research 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 stock presently has an average rating of "Hold" and an average target price of $92.11.

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.