State Street Corporation $STT Stock Position Raised by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in State Street Corporation (NYSE:STT) by 114.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,501 shares of the asset manager’s stock after acquiring an additional 75,134 shares during the period. Vinva Investment Management Ltd’s holdings in State Street were worth $14,893,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in shares of State Street by 9.0% in the 1st quarter. Invesco Ltd. now owns 8,184,690 shares of the asset manager’s stock worth $732,775,000 after purchasing an additional 674,120 shares during the last quarter. Geode Capital Management LLC lifted its stake in State Street by 0.4% in the second quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock valued at $784,930,000 after buying an additional 27,098 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of State Street by 2.8% during the first quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager’s stock valued at $381,770,000 after acquiring an additional 115,751 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of State Street by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager’s stock valued at $274,732,000 after acquiring an additional 14,011 shares during the period. Finally, Eastern Bank grew its position in shares of State Street by 6,967.4% during the first quarter. Eastern Bank now owns 2,989,452 shares of the asset manager’s stock worth $267,646,000 after acquiring an additional 2,947,153 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on STT. Wells Fargo & Company boosted their target price 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. TD Cowen started coverage on State Street in a research report on Thursday, September 25th. They set a “buy” rating for the company. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods lifted their target price on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Citigroup raised their price target on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, State Street has an average rating of “Moderate Buy” and a consensus price target of $125.92.

State Street Trading Up 1.5%

Shares of State Street stock opened at $117.80 on Thursday. The business has a fifty day simple moving average of $115.55 and a 200-day simple moving average of $109.53. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $122.69. The firm has a market cap of $32.90 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth 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 (NYSE:STT) last issued its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS 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 firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the business earned $2.26 earnings per share. State Street’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares in the company, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.