American Century Companies Inc. Buys 1,070,025 Shares of State Street Corp (STT)

American Century Companies Inc. increased its stake in State Street Corp (NYSE:STT) by 456.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,304,362 shares of the asset manager’s stock after buying an additional 1,070,025 shares during the quarter. American Century Companies Inc. owned about 0.36% of State Street worth $109,279,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted 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 worth $2,340,355,000 after buying an additional 1,830,069 shares during the last quarter. Longview Partners Guernsey LTD lifted its holdings in shares of State Street by 40.5% in the 3rd quarter. Longview Partners Guernsey LTD now owns 11,202,851 shares of the asset manager’s stock worth $938,575,000 after purchasing an additional 3,230,396 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of State Street by 1.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 5,389,168 shares of the asset manager’s stock worth $501,678,000 after purchasing an additional 50,779 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of State Street by 4.3% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,952,036 shares of the asset manager’s stock worth $460,985,000 after purchasing an additional 205,964 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of State Street by 1.0% in the 2nd quarter. Northern Trust Corp now owns 4,833,134 shares of the asset manager’s stock worth $449,916,000 after purchasing an additional 47,467 shares during the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.

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

Several analysts recently issued reports on STT shares. Deutsche Bank raised their price target on State Street from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Wells Fargo & Co set a $105.00 price target on State Street and gave the stock a “buy” rating in a report on Thursday, August 16th. Goldman Sachs Group started coverage on State Street in a research report on Thursday, October 11th. They issued a “buy” rating on the stock. UBS Group raised their target price on State Street from $96.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $95.00 target price on shares of State Street in a research report on Sunday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. State Street has a consensus rating of “Hold” and an average price target of $102.47.

Shares of NYSE STT traded up $0.13 during mid-day trading on Monday, reaching $73.15. The company had a trading volume of 2,312,500 shares, compared to its average volume of 2,238,291. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $27.71 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.07 and a beta of 1.35. State Street Corp has a 1-year low of $65.81 and a 1-year high of $114.27.

State Street (NYSE:STT) last issued its earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.02). The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 earnings per share. As a group, analysts anticipate that State Street Corp will post 7.43 earnings per share for the current year.

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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.

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

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