State Street Co. (NYSE:STT) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in shares of State Street Co. (NYSE:STT) by 26.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 209,391 shares of the asset manager’s stock after purchasing an additional 44,330 shares during the period. State Street makes up 1.2% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. Meeder Asset Management Inc.’s holdings in State Street were worth $18,525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in State Street during the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new position in State Street during the 2nd quarter worth $27,000. Versant Capital Management Inc boosted its position in shares of State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares in the last quarter. Coastline Trust Co acquired a new position in shares of State Street during the 3rd quarter worth about $44,000. Finally, Trust Co. of Vermont boosted its position in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after acquiring an additional 200 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STT shares. Deutsche Bank Aktiengesellschaft upped their target price on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Citigroup upped their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Barclays upped their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group increased their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Price Performance

Shares of NYSE:STT opened at $96.12 on Tuesday. State Street Co. has a 12 month low of $68.99 and a 12 month high of $98.45. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.18 and a beta of 1.46. The stock’s 50 day moving average price is $90.25 and its 200 day moving average price is $82.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. Equities research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The shares were 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. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

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.