KBC Group NV Purchases 12,707 Shares of State Street Co. (NYSE:STT)

KBC Group NV lifted its position in shares of State Street Co. (NYSE:STT) by 20.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 74,680 shares of the asset manager’s stock after purchasing an additional 12,707 shares during the quarter. KBC Group NV’s holdings in State Street were worth $6,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of STT. Plato Investment Management Ltd boosted its stake in State Street by 19.4% during the third quarter. Plato Investment Management Ltd now owns 28,014 shares of the asset manager’s stock worth $2,476,000 after buying an additional 4,556 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of State Street during the 3rd quarter worth about $2,402,000. Apollon Wealth Management LLC boosted its position in shares of State Street by 2.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 9,912 shares of the asset manager’s stock valued at $877,000 after acquiring an additional 241 shares in the last quarter. River Global Investors LLP increased its stake in State Street by 0.9% in the third quarter. River Global Investors LLP now owns 69,566 shares of the asset manager’s stock valued at $6,156,000 after acquiring an additional 637 shares during the period. Finally, Assetmark Inc. raised its position in State Street by 4.0% in the third quarter. Assetmark Inc. now owns 5,193 shares of the asset manager’s stock worth $459,000 after purchasing an additional 201 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STT. Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Citigroup upped their target price on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.11.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

State Street Price Performance

Shares of STT stock opened at $95.48 on Friday. 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 firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.18 and a beta of 1.46. The firm’s 50 day moving average is $90.00 and its 200-day moving average is $82.13. State Street Co. has a 1 year low of $68.92 and a 1 year high of $98.45.

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, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. Sell-side analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

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.