State Street Corporation $STT Shares Acquired by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. grew its holdings in State Street Corporation (NYSE:STT) by 59.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 124,012 shares of the asset manager’s stock after buying an additional 46,431 shares during the quarter. State Street comprises about 2.1% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 8th largest holding. University of Texas Texas AM Investment Management Co.’s holdings in State Street were worth $13,187,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Analysts LLC grew its stake in shares of State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after acquiring an additional 274 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after purchasing an additional 118 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock worth $43,000 after purchasing an additional 310 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of State Street during the first quarter worth $46,000. Finally, Wayfinding Financial LLC acquired a new position in shares of State Street during the first quarter worth $49,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on STT. Citigroup boosted their target price on shares of State Street from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Research upgraded shares of State Street from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Wells Fargo & Company upped their price objective on shares of State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. BMO Capital Markets started coverage on shares of State Street in a research note on Friday, October 3rd. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Evercore ISI upped their price objective on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.92.

State Street Price Performance

Shares of STT opened at $116.08 on Friday. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $118.24. The company has a market capitalization of $32.93 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.46. The firm has a 50-day simple moving average of $113.92 and a 200-day simple moving average of $104.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59.

State Street (NYSE:STT) last announced its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The business had revenue of $13 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that State Street Corporation will post 9.68 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.