Aigen Investment Management LP Buys Shares of 27,154 State Street Co. (NYSE:STT)

Aigen Investment Management LP bought a new stake in shares of State Street Co. (NYSE:STT) during the 3rd quarter, Holdings Channel reports. The firm bought 27,154 shares of the asset manager’s stock, valued at approximately $2,402,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. LRI Investments LLC purchased a new stake in State Street in the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street in the 2nd quarter worth approximately $27,000. Versant Capital Management Inc increased its holdings in State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares in the last quarter. Trust Co. of Vermont increased its holdings in State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after acquiring an additional 200 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in State Street during the 3rd quarter valued at approximately $54,000. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the company’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 value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

State Street Stock Down 0.1 %

Shares of STT traded down $0.09 during mid-day trading on Tuesday, hitting $96.46. 88,076 shares of the company traded hands, compared to its average volume of 2,214,856. State Street Co. has a 1-year low of $66.86 and a 1-year high of $98.45. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $28.28 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.46. The business has a 50 day moving average of $89.21 and a 200 day moving average of $81.65.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company earned $1.93 EPS. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts anticipate that State Street Co. will post 8.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STT. Morgan Stanley increased their price objective on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Citigroup boosted their price target on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America lifted their price objective on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.96.

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.