State Street Co. (NYSE:STT) Shares Purchased by Invenomic Capital Management LP

Invenomic Capital Management LP raised its stake in State Street Co. (NYSE:STT) by 18.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,591 shares of the asset manager’s stock after buying an additional 43,221 shares during the quarter. State Street comprises about 1.3% of Invenomic Capital Management LP’s portfolio, making the stock its 21st biggest holding. Invenomic Capital Management LP owned about 0.09% of State Street worth $24,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the last quarter. LSV Asset Management raised its holdings in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after purchasing an additional 1,238,251 shares in the last quarter. FMR LLC raised its position in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares during the period. Metropolis Capital Ltd lifted its stake in shares of State Street by 13.1% in the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of State Street by 443.1% in the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after acquiring an additional 363,399 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target 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, Morgan Stanley lifted their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.68.

State Street Price Performance

Shares of STT opened at $99.30 on Tuesday. The company has a market capitalization of $29.11 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The business has a 50-day moving average of $92.42 and a 200-day moving average of $83.79. State Street Co. has a 1 year low of $70.20 and a 1 year high of $99.50. 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 announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. As a group, equities research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock worth $2,499,860 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

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.