Vinva Investment Management Ltd Sells 49,060 Shares of State Street Co. (NYSE:STT)

Vinva Investment Management Ltd decreased its holdings in State Street Co. (NYSE:STT) by 29.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 116,035 shares of the asset manager’s stock after selling 49,060 shares during the quarter. Vinva Investment Management Ltd’s holdings in State Street were worth $10,234,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of State Street by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,421,569 shares of the asset manager’s stock worth $214,236,000 after acquiring an additional 23,252 shares in the last quarter. Public Sector Pension Investment Board boosted its position in State Street by 2.3% during the third quarter. Public Sector Pension Investment Board now owns 52,286 shares of the asset manager’s stock valued at $4,626,000 after purchasing an additional 1,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in State Street by 5.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 311,977 shares of the asset manager’s stock valued at $27,601,000 after purchasing an additional 16,996 shares during the last quarter. Providence Capital Advisors LLC raised its holdings in State Street by 101,871.8% in the third quarter. Providence Capital Advisors LLC now owns 72,400 shares of the asset manager’s stock worth $6,405,000 after purchasing an additional 72,329 shares in the last quarter. Finally, First Commonwealth Financial Corp PA purchased a new stake in shares of State Street during the third quarter valued at about $205,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was 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 directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock worth $2,499,860 in the last 90 days. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

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

State Street Price Performance

Shares of NYSE STT opened at $98.79 on Thursday. The firm’s 50 day simple moving average is $92.03 and its 200-day simple moving average is $83.43. State Street Co. has a 12 month low of $69.58 and a 12 month high of $99.50. The stock has a market capitalization of $28.96 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The business’s revenue was up 21.1% compared to the same quarter last year. Analysts expect that State Street Co. will post 8.42 EPS for the current year.

State Street Company 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.