Hotchkis & Wiley Capital Management LLC Increases Holdings in State Street Co. (NYSE:STT)

Hotchkis & Wiley Capital Management LLC raised its stake in shares of State Street Co. (NYSE:STT) by 30.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,811,415 shares of the asset manager’s stock after purchasing an additional 1,354,560 shares during the quarter. State Street makes up about 1.7% of Hotchkis & Wiley Capital Management LLC’s holdings, making the stock its 15th biggest holding. Hotchkis & Wiley Capital Management LLC’s holdings in State Street were worth $514,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. LSV Asset Management lifted its stake in State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares during the period. FMR LLC lifted its stake in State Street by 15.8% in 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 in the last quarter. Metropolis Capital Ltd grew its position in shares of State Street by 13.1% during 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 in the last quarter. National Bank of Canada FI grew its holdings in State Street by 443.1% during 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 buying an additional 363,399 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in State Street by 1,078.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock valued at $22,642,000 after purchasing an additional 280,019 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STT. 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 report on Monday, November 11th. Morgan Stanley boosted their price objective 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 downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Monday. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.11.

State Street Stock Down 0.5 %

Shares of NYSE STT opened at $98.03 on Tuesday. The company has a market cap of $28.74 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. 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 firm’s 50-day simple moving average is $92.42 and its 200 day simple moving average is $83.79. State Street Co. has a 12-month low of $70.20 and a 12-month high of $99.50.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 earnings per share. On average, research analysts expect that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by corporate insiders.

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.