Asset Management One Co. Ltd. Sells 7,293 Shares of State Street Corporation $STT

Asset Management One Co. Ltd. cut its stake in shares of State Street Corporation (NYSE:STT) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,561 shares of the asset manager’s stock after selling 7,293 shares during the quarter. Asset Management One Co. Ltd.’s holdings in State Street were worth $15,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in STT. Invesco Ltd. grew its holdings in State Street by 9.0% during the 1st quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock worth $732,775,000 after acquiring an additional 674,120 shares during the last quarter. Northern Trust Corp grew its holdings in State Street by 2.8% during the 1st quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager’s stock worth $381,770,000 after acquiring an additional 115,751 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in State Street by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager’s stock worth $274,732,000 after acquiring an additional 14,011 shares during the last quarter. Eastern Bank grew its holdings in State Street by 6,967.4% during the 1st quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock worth $267,646,000 after acquiring an additional 2,947,153 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in State Street by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,713,415 shares of the asset manager’s stock worth $242,932,000 after acquiring an additional 49,353 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Stock Up 1.3%

State Street stock opened at $116.08 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $118.24. The firm’s fifty day moving average is $113.92 and its 200 day moving average is $104.59. The company has a market capitalization of $32.93 billion, a PE ratio of 12.28, a PEG ratio of 1.23 and a beta of 1.46.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The company had revenue of $13 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the company earned $2.26 EPS. State Street’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that State Street Corporation will post 9.68 EPS for the current fiscal year.

Analyst Ratings Changes

STT has been the topic of a number of research reports. Citigroup boosted their target price on shares of State Street from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Cfra Research raised shares of State Street from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 15th. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Evercore ISI boosted their price target on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley boosted their price target on shares of State Street from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.92.

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.