Mirae Asset Global Investments Co. Ltd. Acquires 20,968 Shares of State Street Co. (NYSE:STT)

Mirae Asset Global Investments Co. Ltd. lifted its position in State Street Co. (NYSE:STT - Free Report) by 43.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,815 shares of the asset manager's stock after buying an additional 20,968 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in State Street were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of STT. Brookstone Capital Management boosted its holdings in State Street by 17.9% during the first quarter. Brookstone Capital Management now owns 7,439 shares of the asset manager's stock valued at $575,000 after acquiring an additional 1,127 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in State Street by 5.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,232 shares of the asset manager's stock worth $2,647,000 after buying an additional 1,707 shares during the period. LVW Advisors LLC lifted its holdings in shares of State Street by 23.6% during the first quarter. LVW Advisors LLC now owns 5,265 shares of the asset manager's stock worth $407,000 after buying an additional 1,004 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in State Street during the 1st quarter valued at $1,178,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in State Street by 4.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager's stock worth $72,789,000 after purchasing an additional 40,835 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

Shares of STT traded down $0.14 on Tuesday, hitting $92.84. The company's stock had a trading volume of 2,104,684 shares, compared to its average volume of 2,231,146. The company has a market capitalization of $27.72 billion, a PE ratio of 14.72, a PEG ratio of 1.16 and a beta of 1.48. State Street Co. has a fifty-two week low of $62.99 and a fifty-two week high of $94.60. The company has a 50 day moving average price of $87.27 and a 200 day moving average price of $80.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS 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 company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The business's revenue for the quarter was up 21.1% on a year-over-year basis. On average, research analysts anticipate that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the company's 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup boosted their price target on State Street from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Wolfe Research restated an "underperform" rating and issued a $73.00 target price on shares of State Street in a research note on Monday, July 8th. Wells Fargo & Company raised their target price on State Street from $98.00 to $106.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of State Street from $79.00 to $87.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Finally, StockNews.com upgraded shares of State Street from a "hold" rating to a "buy" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $91.39.

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.