State Street Corporation $STT Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its holdings in State Street Corporation (NYSE:STT) by 4.2% during the third quarter, Holdings Channel.com reports. The firm owned 1,086,682 shares of the asset manager’s stock after acquiring an additional 44,050 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in State Street were worth $189,724,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its holdings in State Street by 9.7% during the 1st quarter. IFM Investors Pty Ltd now owns 84,534 shares of the asset manager’s stock valued at $10,699,000 after buying an additional 7,469 shares during the last quarter. New York State Teachers Retirement System boosted its position in State Street by 9.7% during the 1st quarter. New York State Teachers Retirement System now owns 303,919 shares of the asset manager’s stock valued at $38,464,000 after buying an additional 26,862 shares during the period. Illinois Municipal Retirement Fund grew its holdings in State Street by 18.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 85,775 shares of the asset manager’s stock worth $10,856,000 after acquiring an additional 13,245 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in State Street by 4.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 426,809 shares of the asset manager’s stock worth $72,387,000 after acquiring an additional 19,035 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new position in shares of State Street in the second quarter valued at about $1,424,000. 87.44% of the stock is owned by institutional investors.

Insider Transactions at State Street

In related news, EVP W. Hu sold 9,758 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the transaction, the executive vice president directly owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by insiders.

More State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street issued $750 million of fixed-to-floating-rate senior notes, strengthening its liquidity and providing additional funding capacity. The financing may support general corporate purposes, although it will also increase interest expense. State Street Boosts Funding with New Senior Notes

State Street Stock Up 0.6%

Shares of NYSE STT opened at $166.48 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. State Street Corporation has a 12 month low of $111.63 and a 12 month high of $195.93. The firm has a market capitalization of $45.73 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. The firm has a fifty day simple moving average of $183.37 and a two-hundred day simple moving average of $170.44.

State Street (NYSE:STT) last posted its earnings results on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, topping the consensus estimate of $3.68 by $0.01. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.36%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $2.78 EPS. Equities analysts expect that State Street Corporation will post 13.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

STT has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Evercore set a $200.00 price target on State Street in a research report on Monday, July 20th. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. UBS Group set a $176.00 price objective on State Street in a research report on Friday, June 26th. Finally, Royal Bank Of Canada reduced their target price on State Street from $196.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 15th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.74.

State Street Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.