State Street Co. (NYSE:STT) Shares Purchased by Bridgewater Associates LP

Bridgewater Associates LP boosted its stake in State Street Co. (NYSE:STT) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,406 shares of the asset manager’s stock after purchasing an additional 5,311 shares during the quarter. Bridgewater Associates LP’s holdings in State Street were worth $17,553,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. LSV Asset Management grew its stake in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares during the period. Metropolis Capital Ltd increased its position in shares of State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of 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 lifted its holdings in shares of 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 in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction 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 firm’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 sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 over the last quarter. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $92.11.

State Street Stock Performance

Shares of NYSE STT opened at $98.79 on Thursday. State Street Co. has a one year low of $69.58 and a one year high of $99.50. The business’s 50-day moving average price is $92.03 and its two-hundred day moving average price is $83.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $28.96 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts anticipate that State Street Co. will post 8.42 earnings per share for the current fiscal year.

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.