Achmea Investment Management B.V. Boosts Position in State Street Corporation (STT)
Achmea Investment Management B.V. increased its position in shares of State Street Corporation (NYSE:STT) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,120 shares of the asset manager’s stock after buying an additional 12,241 shares during the quarter. Achmea Investment Management B.V.’s holdings in State Street were worth $7,841,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of STT. Longview Partners Guernsey LTD raised its stake in State Street by 76.9% during the 2nd quarter. Longview Partners Guernsey LTD now owns 7,569,482 shares of the asset manager’s stock worth $679,210,000 after buying an additional 3,290,082 shares during the period. FMR LLC raised its stake in State Street by 10.8% during the 2nd quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock worth $1,793,591,000 after buying an additional 1,940,536 shares during the period. Parametric Portfolio Associates LLC raised its stake in State Street by 103.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,839,323 shares of the asset manager’s stock worth $165,042,000 after buying an additional 933,038 shares during the period. Capital International Investors raised its stake in State Street by 33.3% during the 2nd quarter. Capital International Investors now owns 3,533,631 shares of the asset manager’s stock worth $317,073,000 after buying an additional 883,431 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in State Street by 31.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,087,474 shares of the asset manager’s stock worth $277,039,000 after buying an additional 745,451 shares during the period. 87.88% of the stock is currently owned by institutional investors and hedge funds.
STT has been the topic of a number of research reports. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Wednesday, October 11th. Morgan Stanley upped their price target on State Street from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of State Street in a research note on Friday, September 15th. Finally, Keefe, Bruyette & Woods set a $93.00 price objective on State Street and gave the stock a “hold” rating in a research note on Monday, August 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $96.47.
State Street Corporation (STT) traded down $0.21 during mid-day trading on Monday, hitting $92.46. The stock had a trading volume of 534,800 shares, compared to its average volume of 1,956,890. The company has a market capitalization of $34,287.59, a price-to-earnings ratio of 15.23, a PEG ratio of 1.58 and a beta of 1.36. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. State Street Corporation has a 52 week low of $74.45 and a 52 week high of $99.99.
State Street (NYSE:STT) last released its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. State Street had a return on equity of 13.03% and a net margin of 20.56%. State Street’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. equities research analysts anticipate that State Street Corporation will post 6.25 earnings per share for the current year.
In other news, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is currently owned by corporate insiders.
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State Street Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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