National Pension Service Grows Stock Holdings in State Street Co. (NYSE:STT)

National Pension Service increased its position in shares of State Street Co. (NYSE:STT - Free Report) by 10.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 530,724 shares of the asset manager's stock after buying an additional 51,998 shares during the quarter. National Pension Service owned 0.18% of State Street worth $46,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its position in State Street by 5.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager's stock valued at $186,000 after purchasing an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager's stock valued at $129,000 after buying an additional 148 shares during the last quarter. Rockland Trust Co. grew its stake in shares of State Street by 1.8% in the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock valued at $737,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. raised its position in State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager's stock worth $125,000 after acquiring an additional 158 shares in the last quarter. Finally, Covestor Ltd lifted its stake in State Street by 13.0% in the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager's stock valued at $119,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Trading Down 1.7 %

STT traded down $1.69 during trading on Thursday, reaching $95.12. 1,915,513 shares of the company's stock were exchanged, compared to its average volume of 2,224,673. The firm has a fifty day moving average price of $88.68 and a two-hundred day moving average price of $81.15. The stock has a market capitalization of $27.88 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. State Street Co. has a one year low of $66.00 and a one year high of $98.45. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.93 EPS. As a group, equities research analysts forecast that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the company's 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 completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on STT. StockNews.com upgraded State Street from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price objective 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. Wells Fargo & Company increased their price objective on shares of State Street from $98.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Barclays increased their price target 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, State Street has a consensus rating of "Hold" and an average price target of $91.39.

State Street 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.