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

Key Points

• Robeco Institutional Asset Management increased its State Street position by 4.2% in the third quarter, adding 44,050 shares to own 1.09 million shares valued at approximately $189.7 million.
• Institutional investors own 87.44% of State Street, with BlackRock, State Street Corp., the University of California, Dimensional Fund Advisors, and UBS among the largest holders.
• State Street’s latest quarterly results modestly beat expectations, with earnings of $3.69 per share versus the $3.68 consensus estimate and revenue rising 12.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $189.74.

Robeco Institutional Asset Management B.V. boosted its position in State Street Corporation (NYSE:STT - Free Report) by 4.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,086,682 shares of the asset manager's stock after acquiring an additional 44,050 shares during the period. Robeco Institutional Asset Management B.V. owned 0.40% of State Street worth $189,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of State Street during the 2nd quarter valued at approximately $4,139,389,000. State Street Corp boosted its holdings in State Street by 1.2% in the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager's stock worth $2,296,098,000 after buying an additional 163,362 shares during the period. Regents of The University of California grew its stake in State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager's stock valued at $1,273,841,000 after buying an additional 1,358,923 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in State Street by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,101,952 shares of the asset manager's stock valued at $392,539,000 after buying an additional 51,754 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in State Street by 4.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,962,274 shares of the asset manager's stock valued at $502,402,000 after buying an additional 137,798 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Up 0.6%

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

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Wednesday, October 14th. The asset manager reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.01. State Street had a net margin of 15.81% and a return on equity of 16.36%. The firm had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The business's quarterly revenue was up 12.9% on a year-over-year basis. Analysts anticipate that State Street Corporation will post 13.77 EPS for the current fiscal year.

Trending Headlines about State Street

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

Analyst Upgrades and Downgrades

STT has been the subject of a number of analyst reports. Zacks Research lowered State Street from a "strong-buy" rating to a "hold" rating in a report on Friday, September 18th. Evercore set a $200.00 price objective on State Street in a research note on Monday, July 20th. TD Cowen began coverage on State Street in a report on Thursday, October 8th. They set a "buy" rating and a $205.00 price objective on the stock. Barclays increased their price objective on State Street from $165.00 to $200.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. Finally, Citigroup cut their target price on State Street from $212.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, October 16th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $189.74.

Insider Buying and Selling at State Street

In other State Street news, EVP W. Hu sold 9,758 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the sale, the executive vice president owned 49,794 shares of the company's stock, valued at $9,187,988.88. This trade represents a 16.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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.

State Street Company 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.

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