iSAM Funds UK Ltd Takes $1.96 Million Position in State Street Corporation $STT

iSAM Funds UK Ltd purchased a new stake in shares of State Street Corporation (NYSE:STT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,427 shares of the asset manager’s stock, valued at approximately $1,960,000.

A number of other hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of State Street by 4.7% in the 2nd quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock worth $910,934,000 after acquiring an additional 381,547 shares during the last quarter. Dodge & Cox boosted its position in shares of State Street by 1.1% during the second quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock valued at $788,236,000 after buying an additional 80,855 shares during the period. Geode Capital Management LLC grew its stake in shares of State Street by 0.4% during 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 raised its holdings in shares of State Street by 2.8% in the first quarter. Northern Trust Corp now owns 4,264,161 shares of the asset manager’s stock worth $381,770,000 after buying an additional 115,751 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of State Street by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,068,867 shares of the asset manager’s stock worth $274,732,000 after acquiring an additional 14,011 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.2%

NYSE:STT opened at $123.89 on Tuesday. State Street Corporation has a one year low of $72.81 and a one year high of $124.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $34.60 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.14 and a beta of 1.44. The firm has a 50-day simple moving average of $116.58 and a 200-day simple moving average of $110.93.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. Equities analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on STT shares. Morgan Stanley lifted their target price on State Street from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods raised their price target on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. TD Cowen started coverage on shares of State Street in a research report on Thursday, September 25th. They issued a “buy” rating for the company. The Goldman Sachs Group raised their target price on shares of State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, BMO Capital Markets assumed coverage on shares of State Street in a research note on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.92.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $117.24, for a total transaction of $175,860.00. Following the sale, the executive vice president owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.