State Street Co. (NYSE:STT) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in shares of State Street Co. (NYSE:STT) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,247 shares of the asset manager’s stock after acquiring an additional 5,167 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in State Street were worth $8,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. FMR LLC boosted its holdings in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the period. LSV Asset Management lifted its stake in shares of 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 purchasing an additional 1,238,251 shares in the last quarter. Metropolis Capital Ltd grew its holdings in shares of State Street by 3.9% during the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after purchasing an additional 161,466 shares during the period. Finally, Cooke & Bieler LP raised its holdings in State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after buying an additional 105,222 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’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 of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the company’s 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 owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by insiders.

State Street Stock Up 1.4 %

Shares of State Street stock opened at $100.64 on Friday. 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 business has a 50-day moving average price of $94.12 and a 200 day moving average price of $84.97. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The firm has a market cap of $29.50 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.23 and a beta of 1.44.

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, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’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 EPS. On average, sell-side analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective 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. Morgan Stanley upgraded State Street from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $102.00 to $139.00 in a report on Monday. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI boosted their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.32.

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.