V Square Quantitative Management LLC Grows Position in State Street Co. (NYSE:STT)

V Square Quantitative Management LLC grew its position in shares of State Street Co. (NYSE:STT) by 32.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,129 shares of the asset manager’s stock after purchasing an additional 2,241 shares during the quarter. V Square Quantitative Management LLC’s holdings in State Street were worth $808,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in STT. LRI Investments LLC purchased a new position in State Street in the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of State Street during the 2nd quarter valued at about $27,000. Norwood Financial Corp purchased a new position in shares of State Street in the 1st quarter valued at about $35,000. Versant Capital Management Inc raised its holdings in State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares during the period. Finally, Trust Co. of Vermont boosted its position in State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after purchasing an additional 200 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STT shares. Citigroup upped their target price on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Bank of America lifted their target price on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.39.

State Street Stock Down 1.2 %

Shares of NYSE:STT opened at $91.43 on Friday. State Street Co. has a 52-week low of $62.78 and a 52-week high of $94.60. The stock has a market cap of $27.54 billion, a P/E ratio of 17.12, a PEG ratio of 1.29 and a beta of 1.48. The business has a fifty day moving average of $85.89 and a two-hundred day moving average of $79.54. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business earned $1.93 earnings per share. On average, research analysts expect that State Street Co. will post 8.15 earnings per share for the current year.

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, 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.