Plato Investment Management Ltd Boosts Stock Position in State Street Co. (NYSE:STT)

Plato Investment Management Ltd increased its stake in shares of State Street Co. (NYSE:STT) by 19.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,014 shares of the asset manager’s stock after buying an additional 4,556 shares during the quarter. Plato Investment Management Ltd’s holdings in State Street were worth $2,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of State Street by 11.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,282 shares of the asset manager’s stock valued at $640,000 after acquiring an additional 839 shares during the last quarter. Empowered Funds LLC boosted its holdings in State Street by 14.9% in the 1st quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager’s stock valued at $296,000 after purchasing an additional 498 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of State Street in the 1st quarter valued at approximately $339,000. State Board of Administration of Florida Retirement System grew its stake in shares of State Street by 6.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 397,186 shares of the asset manager’s stock valued at $30,063,000 after buying an additional 24,210 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of State Street by 15.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 366,434 shares of the asset manager’s stock worth $28,333,000 after buying an additional 50,034 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on 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 owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

State Street Stock Down 0.0 %

State Street stock opened at $95.17 on Thursday. The firm has a market capitalization of $27.90 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.21 and a beta of 1.46. 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 $68.00 and a twelve month high of $98.45. The stock’s fifty day simple moving average is $89.39 and its 200-day simple moving average is $81.80.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 EPS. As a group, equities analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their price objective on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday. Evercore ISI raised 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. Citigroup upped their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Barclays lifted their price target 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.96.

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.