American Century Companies Inc. Buys 27,425 Shares of State Street Corporation $STT

American Century Companies Inc. lifted its stake in shares of State Street Corporation (NYSE:STT) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,489 shares of the asset manager’s stock after acquiring an additional 27,425 shares during the quarter. American Century Companies Inc. owned approximately 0.13% of State Street worth $40,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in STT. Assetmark Inc. raised its stake in State Street by 61.9% during the first quarter. Assetmark Inc. now owns 934 shares of the asset manager’s stock worth $84,000 after buying an additional 357 shares during the last quarter. Nordea Investment Management AB raised its position in shares of State Street by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,273,567 shares of the asset manager’s stock worth $241,862,000 after acquiring an additional 49,475 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of State Street by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,891,862 shares of the asset manager’s stock valued at $169,378,000 after purchasing an additional 16,926 shares during the period. Inspire Trust Co. N.A. lifted its stake in shares of State Street by 25.8% in the 1st quarter. Inspire Trust Co. N.A. now owns 45,000 shares of the asset manager’s stock valued at $4,029,000 after purchasing an additional 9,224 shares during the period. Finally, LPL Financial LLC boosted its position in shares of State Street by 6.6% during the 1st quarter. LPL Financial LLC now owns 123,407 shares of the asset manager’s stock valued at $11,049,000 after purchasing an additional 7,656 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the transaction, the executive vice president directly owned 38,626 shares in the company, valued at approximately $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.

State Street Stock Up 1.2%

STT stock opened at $119.02 on Friday. The firm has a market capitalization of $33.24 billion, a PE ratio of 12.59, a P/E/G ratio of 1.24 and a beta of 1.47. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $122.69. The stock’s 50 day moving average is $115.75 and its 200-day moving average is $109.75.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.State Street’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. Sell-side analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on STT shares. BMO Capital Markets assumed coverage on State Street in a report on Friday, October 3rd. They issued an “outperform” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Citigroup boosted their target price on shares of State Street from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Evercore ISI increased their target price on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Moderate Buy” and a consensus price target of $125.92.

About State Street

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.