State Street Co. (NYSE:STT) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in State Street Co. (NYSE:STT) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 51,056 shares of the asset manager’s stock after acquiring an additional 3,026 shares during the period. CIBC Asset Management Inc’s holdings in State Street were worth $4,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STT. LSV Asset Management grew its stake in State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after acquiring an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in State Street by 541.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after acquiring an additional 634,422 shares during the period. Lazard Asset Management LLC grew its stake in State Street by 168.7% in the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after acquiring an additional 507,270 shares during the period. Metropolis Capital Ltd grew its stake in State Street by 13.1% in the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after acquiring an additional 479,205 shares during the period. Finally, National Bank of Canada FI grew its stake in State Street by 443.1% in the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after acquiring an additional 363,399 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $95.48 on Monday. The firm has a market cap of $27.99 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The firm’s 50-day simple moving average is $90.00 and its 200-day simple moving average is $82.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a 1 year low of $68.92 and a 1 year high of $98.45.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company boosted their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup boosted their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their target price on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.11.

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.