Dai ichi Life Insurance Company Ltd Makes New Investment in State Street Co. (NYSE:STT)

by · The Markets Daily

Dai ichi Life Insurance Company Ltd acquired a new position in shares of State Street Co. (NYSE:STT – Free Report) in the third quarter, HoldingsChannel.com reports. The firm acquired 36,389 shares of the asset manager’s stock, valued at approximately $3,219,000.

A number of other large investors also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its stake in shares of State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after buying an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after buying an additional 148 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. boosted its stake in shares of State Street by 10.9% during the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after buying an additional 158 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock worth $997,000 after buying an additional 158 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock worth $2,499,860. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on STT. Morgan Stanley increased their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays lifted their price target on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.11.

View Our Latest Stock Report on STT

State Street Trading Up 0.0 %

Shares of NYSE:STT opened at $98.80 on Wednesday. State Street Co. has a 12-month low of $69.56 and a 12-month high of $99.50. The stock has a market cap of $28.96 billion, a PE ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.46. The business has a 50 day moving average of $91.80 and a 200-day moving average of $83.33. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts forecast that State Street Co. will post 8.42 earnings per share for the current year.

State Street Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding STT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for State Street Co. (NYSE:STT – Free Report).