B. Metzler seel. Sohn & Co. Holding AG Buys Shares of 40,296 State Street Co. (NYSE:STT)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in State Street Co. (NYSE:STT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,296 shares of the asset manager’s stock, valued at approximately $3,565,000.

Several other institutional investors and hedge funds also recently modified their holdings of STT. LSV Asset Management lifted its stake in State Street by 30.6% in the 2nd 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of State Street by 541.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after acquiring an additional 634,422 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after acquiring an additional 507,270 shares during the last quarter. Metropolis Capital Ltd increased its position in State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after purchasing an additional 479,205 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in State Street by 443.1% in the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock valued at $32,765,000 after purchasing an additional 363,399 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.6 %

Shares of State Street stock opened at $95.30 on Thursday. The company has a fifty day moving average price of $90.73 and a 200 day moving average price of $82.65. 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 Co. has a twelve month low of $68.99 and a twelve month high of $98.45. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

State Street (NYSE:STT) last posted its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 earnings per share. Equities research analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In other State Street news, 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 value of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group increased their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Morgan Stanley upped their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $92.11.

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.