State Street Co. (NYSE:STT) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. increased its position in State Street Co. (NYSE:STT - Free Report) by 8.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,560 shares of the asset manager's stock after purchasing an additional 6,400 shares during the period. Intact Investment Management Inc.'s holdings in State Street were worth $7,039,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STT. Capital International Investors grew its position in shares of State Street by 0.5% during the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager's stock worth $512,381,000 after acquiring an additional 31,314 shares during the last quarter. LSV Asset Management raised its holdings in shares of State Street by 30.6% in the second 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 last quarter. Metropolis Capital Ltd boosted its stake in shares of State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager's stock worth $379,209,000 after buying an additional 161,466 shares during the period. Cooke & Bieler LP increased 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 during the period. Finally, Dimensional Fund Advisors LP raised its stake in State Street by 9.4% during 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 during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company's stock.

State Street Price Performance

Shares of STT traded down $0.54 during mid-day trading on Monday, reaching $92.26. 1,362,980 shares of the company's stock were exchanged, compared to its average volume of 2,225,621. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The company has a market cap of $27.55 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.19 and a beta of 1.46. The company has a 50-day simple moving average of $88.14 and a two-hundred day simple moving average of $80.76. State Street Co. has a 52-week low of $66.00 and a 52-week high of $94.60.

State Street (NYSE:STT - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company's quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. On average, sell-side analysts predict that State Street Co. will post 8.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on State Street from $98.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. StockNews.com raised shares of State Street from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $79.00 to $87.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Barclays lifted their price target on State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Two investment 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's stock. According to data from MarketBeat.com, State Street currently has an average rating of "Hold" and an average target price 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.