Meeder Asset Management Inc. Has $18.53 Million Position in State Street Co. (NYSE:STT)

Meeder Asset Management Inc. raised its position in State Street Co. (NYSE:STT) by 26.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,391 shares of the asset manager’s stock after acquiring an additional 44,330 shares during the quarter. State Street makes up about 1.2% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. Meeder Asset Management Inc. owned 0.07% of State Street worth $18,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STT. Capital International Investors raised its position in shares of State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after purchasing an additional 31,314 shares during the period. LSV Asset Management raised its position in shares of State Street by 30.6% in the second 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 during the period. Metropolis Capital Ltd increased its position in State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares during the period. Cooke & Bieler LP increased its position in State Street by 3.1% during the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock worth $262,795,000 after acquiring an additional 105,222 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in State Street by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock worth $224,466,000 after acquiring an additional 259,729 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Up 0.7 %

Shares of STT stock opened at $96.12 on Tuesday. The stock has a 50 day moving average of $90.25 and a 200 day moving average of $82.42. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market cap of $28.18 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.18 and a beta of 1.46. State Street Co. has a twelve month low of $68.99 and a twelve month high of $98.45.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the business earned $1.93 earnings per share. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts expect that State Street Co. will post 8.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays raised their price target on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup raised their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Morgan Stanley raised 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.11.

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.