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

Bridgewater Associates LP grew its holdings in State Street Co. (NYSE:STT) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,406 shares of the asset manager’s stock after purchasing an additional 5,311 shares during the period. Bridgewater Associates LP owned approximately 0.07% of State Street worth $17,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of STT. Cetera Investment Advisers lifted its position in State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after buying an additional 24,906 shares during the last quarter. KBC Group NV boosted its position in shares of State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after purchasing an additional 12,707 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the period. Ensign Peak Advisors Inc increased its holdings in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after purchasing an additional 41,180 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Price Performance

Shares of NYSE:STT opened at $98.79 on Thursday. State Street Co. has a 52 week low of $69.58 and a 52 week high of $99.50. The company has a 50-day moving average price of $92.03 and a 200 day moving average price of $83.43. The company has a market cap of $28.96 billion, a P/E ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last issued its 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. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the business posted $1.93 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Research analysts predict that State Street Co. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of State Street 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 transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $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 quarter, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on STT shares. Evercore ISI upped their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upped their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. 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 company. According to MarketBeat.com, State Street currently has an average rating of “Hold” and an average price target of $92.11.

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.