State Street Co. (NYSE:STT) Position Increased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in State Street Co. (NYSE:STT - Free Report) by 818.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 518,697 shares of the asset manager's stock after purchasing an additional 462,201 shares during the period. Wellington Management Group LLP owned about 0.18% of State Street worth $45,889,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after buying an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock worth $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. LSV Asset Management increased its position in State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager's stock worth $390,897,000 after purchasing an additional 1,238,251 shares in the last quarter. Metropolis Capital Ltd raised its stake in State Street by 3.9% in the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager's stock valued at $379,209,000 after purchasing an additional 161,466 shares during the last quarter. Finally, Cooke & Bieler LP lifted its holdings 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 purchasing an additional 105,222 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STT. Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Morgan Stanley upgraded shares of State Street from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $102.00 to $139.00 in a report on Monday. StockNews.com upgraded shares of State Street from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Evercore ISI increased their price target on shares of State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $97.32.

State Street Stock Up 1.6 %

Shares of STT traded up $1.58 during mid-day trading on Thursday, reaching $100.85. 1,410,879 shares of the stock traded hands, compared to its average volume of 2,208,349. The stock has a fifty day simple moving average of $94.12 and a 200 day simple moving average of $84.97. State Street Co. has a 12-month low of $70.20 and a 12-month high of $101.91. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market cap of $29.56 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.22 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last released its quarterly 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 firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Sell-side analysts expect that State Street Co. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company's stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now 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. Over the last 90 days, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

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.