State Street Co. (NYSE:STT) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its holdings in shares of State Street Co. (NYSE:STT) by 17.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,757 shares of the asset manager’s stock after purchasing an additional 1,566 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in State Street were worth $952,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of State Street by 4.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 941,404 shares of the asset manager’s stock worth $72,789,000 after purchasing an additional 40,835 shares during the period. Norden Group LLC purchased a new stake in State Street during the first quarter valued at about $804,000. Diversify Advisory Services LLC acquired a new position in shares of State Street in the first quarter worth about $934,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of State Street by 10.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,095 shares of the asset manager’s stock worth $4,287,000 after buying an additional 5,383 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of State Street by 15.3% in the first quarter. BNP Paribas Financial Markets now owns 381,258 shares of the asset manager’s stock worth $29,479,000 after acquiring an additional 50,549 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated 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 directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Performance

Shares of NYSE STT opened at $92.80 on Friday. The business has a 50 day simple moving average of $88.14 and a 200 day simple moving average of $80.65. State Street Co. has a 52 week low of $65.16 and a 52 week high of $94.60. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56.

State Street (NYSE:STT) last posted its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. On average, research analysts predict that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on STT shares. Morgan Stanley upped their price target on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $73.00 target price on shares of State Street in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $91.39.

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.