Metropolis Capital Ltd Buys 161,466 Shares of State Street Co. (NYSE:STT)

Metropolis Capital Ltd raised its stake in shares of State Street Co. (NYSE:STT) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,286,306 shares of the asset manager’s stock after purchasing an additional 161,466 shares during the period. State Street accounts for 13.1% of Metropolis Capital Ltd’s portfolio, making the stock its largest holding. Metropolis Capital Ltd’s holdings in State Street were worth $379,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brookstone Capital Management grew its stake in shares of State Street by 17.9% in the first quarter. Brookstone Capital Management now owns 7,439 shares of the asset manager’s stock worth $575,000 after acquiring an additional 1,127 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of State Street by 3.9% in the first quarter. Wealthcare Advisory Partners LLC now owns 20,739 shares of the asset manager’s stock worth $1,604,000 after acquiring an additional 786 shares during the last quarter. Cardinal Capital Management grew its stake in shares of State Street by 8.3% in the first quarter. Cardinal Capital Management now owns 52,953 shares of the asset manager’s stock worth $4,130,000 after acquiring an additional 4,036 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of State Street by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,232 shares of the asset manager’s stock worth $2,647,000 after acquiring an additional 1,707 shares during the last quarter. Finally, Norwood Financial Corp acquired a new stake in shares of State Street in the first quarter worth $35,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $89.86 on Wednesday. State Street Co. has a twelve month low of $62.78 and a twelve month high of $94.60. The firm has a market cap of $27.07 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. The business has a fifty day moving average of $86.37 and a 200-day moving average of $79.78.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, equities research analysts predict that State Street Co. will post 8.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STT shares. Citigroup raised their price objective on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. The Goldman Sachs Group raised 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. Royal Bank of Canada raised their target price on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Finally, Bank of America lifted their price objective on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus target price of $91.39.

Insider Activity

In other news, EVP John Plansky sold 13,859 shares of the firm’s 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 completion of the sale, the executive vice president now directly 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 filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

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.