Metropolis Capital Ltd Buys 161,466 Shares of State Street Co. (NYSE:STT)

Metropolis Capital Ltd boosted its stake in State Street Co. (NYSE:STT) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,286,306 shares of the asset manager’s stock after acquiring an additional 161,466 shares during the period. State Street accounts for 13.1% of Metropolis Capital Ltd’s portfolio, making the stock its largest position. Metropolis Capital Ltd owned approximately 1.42% of State Street worth $379,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its holdings in State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 129 shares in the last quarter. HB Wealth Management LLC increased its stake in State Street by 3.4% during the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock valued at $333,000 after purchasing an additional 140 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in State Street by 9.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 148 shares during the last quarter. Rockland Trust Co. grew its position in shares of State Street by 1.8% during the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after acquiring an additional 150 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the 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 sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STT. Morgan Stanley increased their target price on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wolfe Research reiterated an “underperform” rating and issued a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Keefe, Bruyette & Woods decreased their target price on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Wells Fargo & Company upped their price target on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two investment 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. According to MarketBeat, State Street currently has an average rating of “Hold” and an average price target of $91.39.

State Street Price Performance

NYSE STT opened at $89.86 on Wednesday. The company has a 50 day simple moving average of $86.37 and a 200-day simple moving average of $79.78. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.54. The firm has a market capitalization of $27.07 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. State Street Co. has a 52-week low of $62.78 and a 52-week high of $94.60.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping 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 net margin of 9.87% and a return on equity of 12.02%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. Equities research analysts predict that State Street Co. will post 8.36 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.