Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of State Street Co. (NYSE:STT) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,610 shares of the asset manager’s stock after purchasing an additional 1,080 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in State Street were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in STT. AQR Capital Management LLC boosted its holdings in shares of State Street by 366.4% in the second quarter. AQR Capital Management LLC now owns 3,169,222 shares of the asset manager’s stock worth $196,397,000 after acquiring an additional 2,489,751 shares during the period. LSV Asset Management boosted its stake in State Street by 80.2% during the second quarter. LSV Asset Management now owns 4,313,370 shares of the asset manager’s stock valued at $274,114,000 after buying an additional 1,919,301 shares during the period. AJO LP boosted its stake in State Street by 4,464.2% during the second quarter. AJO LP now owns 1,177,104 shares of the asset manager’s stock valued at $74,804,000 after buying an additional 1,151,314 shares during the period. Jupiter Asset Management Ltd. bought a new stake in State Street during the third quarter valued at $58,301,000. Finally, Metropolis Capital Ltd boosted its stake in State Street by 40.5% during the third quarter. Metropolis Capital Ltd now owns 1,645,687 shares of the asset manager’s stock valued at $97,639,000 after buying an additional 474,751 shares during the period. 90.33% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on STT shares. ValuEngine raised State Street from a “sell” rating to a “hold” rating in a research note on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft upgraded State Street from a “hold” rating to a “buy” rating and upped their price objective for the stock from $67.00 to $80.00 in a research note on Wednesday, November 11th. Morgan Stanley upped their price objective on State Street from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Monday, October 19th. Piper Sandler upped their price objective on State Street from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Monday, October 19th. Finally, Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $74.00 to $84.00 in a research note on Wednesday, November 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. State Street currently has an average rating of “Hold” and a consensus price target of $75.13.
In related news, CEO Francisco Aristeguieta sold 62,183 shares of the stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $66.13, for a total value of $4,112,161.79. Following the sale, the chief executive officer now directly owns 110,582 shares of the company’s stock, valued at approximately $7,312,787.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.
Shares of NYSE:STT opened at $72.24 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.54 and a debt-to-equity ratio of 0.60. State Street Co. has a 12 month low of $42.10 and a 12 month high of $85.89. The company has a 50-day moving average price of $65.59 and a 200 day moving average price of $64.16. The company has a market cap of $25.49 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 2.04 and a beta of 1.54.
State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 16th. The asset manager reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.04. State Street had a net margin of 20.75% and a return on equity of 12.24%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, equities analysts forecast that State Street Co. will post 6.55 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. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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