National Pension Service Has $46.95 Million Stake in State Street Co. (NYSE:STT)

National Pension Service boosted its position in State Street Co. (NYSE:STT) by 10.9% in the third quarter, Holdings Channel.com reports. The firm owned 530,724 shares of the asset manager’s stock after purchasing an additional 51,998 shares during the quarter. National Pension Service’s holdings in State Street were worth $46,953,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. LSV Asset Management raised its holdings 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after purchasing an additional 634,422 shares during the period. SG Americas Securities LLC grew its stake in shares of State Street by 430.5% in the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock worth $56,841,000 after purchasing an additional 596,567 shares during the last quarter. Lazard Asset Management LLC increased its holdings in State Street by 168.7% in the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock valued at $62,469,000 after purchasing an additional 507,270 shares during the period. Finally, Metropolis Capital Ltd increased its holdings in State Street by 13.1% in the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares during the period. 87.44% of the stock is currently owned by institutional investors.

State Street Price Performance

NYSE STT opened at $96.81 on Thursday. 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 company has a market cap of $28.38 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. State Street Co. has a 52 week low of $66.00 and a 52 week high of $98.45. The firm’s 50-day simple moving average is $88.68 and its two-hundred day simple moving average is $81.15.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the company posted $1.93 EPS. State Street’s revenue was up 21.1% compared to the same quarter last year. Research analysts predict that State Street Co. will post 8.38 earnings per share for the current year.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Bank of America lifted their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Morgan Stanley upped 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. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus price target of $91.39.

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.