State Street Corp (STT) Position Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of State Street Corp (NYSE:STT) by 2.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,426,609 shares of the asset manager’s stock after buying an additional 28,348 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.38% of State Street worth $119,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its holdings in State Street by 7.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 27,934,535 shares of the asset manager’s stock valued at $2,340,355,000 after buying an additional 1,830,069 shares during the last quarter. BlackRock Inc. raised its holdings in State Street by 5.7% during the 3rd quarter. BlackRock Inc. now owns 22,719,665 shares of the asset manager’s stock valued at $1,903,454,000 after buying an additional 1,224,497 shares during the last quarter. FMR LLC raised its holdings in State Street by 1.9% during the 3rd quarter. FMR LLC now owns 13,405,169 shares of the asset manager’s stock valued at $1,123,084,000 after buying an additional 251,861 shares during the last quarter. Longview Partners Guernsey LTD raised its holdings in State Street by 40.5% during the 3rd quarter. Longview Partners Guernsey LTD now owns 11,202,851 shares of the asset manager’s stock valued at $938,575,000 after buying an additional 3,230,396 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in State Street by 1.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,389,168 shares of the asset manager’s stock valued at $501,678,000 after buying an additional 50,779 shares during the last quarter. Institutional investors own 87.22% of the company’s stock.

Shares of NYSE STT opened at $65.04 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. State Street Corp has a 12 month low of $63.40 and a 12 month high of $114.27. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.99 and a beta of 1.35.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.02). The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.71 earnings per share. Equities research analysts expect that State Street Corp will post 7.42 EPS for the current year.

A number of research firms recently commented on STT. ValuEngine upgraded shares of State Street from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Wolfe Research assumed coverage on shares of State Street in a report on Tuesday, September 25th. They issued a “market perform” rating for the company. Morgan Stanley upgraded shares of State Street from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $109.00 to $115.00 in a report on Tuesday, September 4th. UBS Group upped their price objective on shares of State Street from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, Deutsche Bank upped their price objective on shares of State Street from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $100.40.

In other State Street news, Director Saint-Aignan Patrick De purchased 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was bought at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the purchase, the director now directly owns 25,138 shares in the company, valued at $1,724,969.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Louis D. Maiuri purchased 740 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The stock was acquired at an average price of $67.60 per share, with a total value of $50,024.00. Following the completion of the purchase, the executive vice president now owns 45,314 shares in the company, valued at $3,063,226.40. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

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State Street 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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

Further Reading: What is a Swap?

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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