Vinva Investment Management Ltd Has $14.89 Million Stock Position in State Street Corporation $STT

Vinva Investment Management Ltd lifted its position in State Street Corporation (NYSE:STT) by 114.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,501 shares of the asset manager’s stock after acquiring an additional 75,134 shares during the quarter. Vinva Investment Management Ltd’s holdings in State Street were worth $14,893,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STT. Employees Retirement System of Texas acquired a new stake in shares of State Street in the second quarter worth $335,000. Choreo LLC boosted its position in State Street by 38.8% during the 2nd quarter. Choreo LLC now owns 34,653 shares of the asset manager’s stock worth $3,685,000 after acquiring an additional 9,681 shares during the period. Russell Investments Group Ltd. grew its stake in State Street by 0.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 420,622 shares of the asset manager’s stock valued at $44,719,000 after acquiring an additional 2,214 shares in the last quarter. Inceptionr LLC increased its holdings in shares of State Street by 2.4% in the 2nd quarter. Inceptionr LLC now owns 17,848 shares of the asset manager’s stock valued at $1,884,000 after purchasing an additional 418 shares during the period. Finally, Oak Associates Ltd. OH increased its holdings in shares of State Street by 9.9% in the 2nd quarter. Oak Associates Ltd. OH now owns 73,177 shares of the asset manager’s stock valued at $7,782,000 after purchasing an additional 6,566 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STT has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of State Street from $133.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Citigroup boosted their price target on shares of State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Keefe, Bruyette & Woods raised their price target on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, State Street has a consensus rating of “Moderate Buy” and an average price target of $125.92.

State Street Stock Performance

STT opened at $117.80 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. The company has a market cap of $32.90 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The stock has a 50-day moving average of $115.55 and a 200-day moving average of $109.53. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $122.69.

State Street (NYSE:STT) last posted 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. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. As a group, equities research analysts forecast that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $4,528,512.24. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

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.