Sompo Asset Management Co. Ltd. Has $2.22 Million Stake in State Street Co. (NYSE:STT)

Sompo Asset Management Co. Ltd. decreased its holdings in State Street Co. (NYSE:STT) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,040 shares of the asset manager’s stock after selling 460 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in State Street were worth $2,215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LSV Asset Management lifted its position in State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares in the last quarter. Metropolis Capital Ltd raised its stake in shares of State Street by 3.9% in 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 last quarter. Cooke & Bieler LP lifted its position in shares of 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 purchasing an additional 105,222 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 valued at $224,466,000 after purchasing an additional 259,729 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of State Street by 11.2% in the second quarter. AustralianSuper Pty Ltd now owns 1,901,788 shares of the asset manager’s stock valued at $140,732,000 after purchasing an additional 191,679 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $97.50 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. State Street Co. has a one year low of $69.56 and a one year high of $98.45. The stock’s 50-day moving average is $91.29 and its 200-day moving average is $82.96.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) 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 company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company earned $1.93 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. Equities analysts predict that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore ISI upped their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays raised their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their target price 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. Finally, Morgan Stanley lifted their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus target price of $92.11.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the stock in a transaction 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 owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

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.