Qsemble Capital Management LP Buys New Stake in State Street Co. (NYSE:STT)

Qsemble Capital Management LP purchased a new position in shares of State Street Co. (NYSE:STT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,659 shares of the asset manager’s stock, valued at approximately $3,686,000.

Several other institutional investors and hedge funds have also made changes to their positions in STT. LSV Asset Management raised its stake in State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd raised its stake in shares of State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after purchasing an additional 479,205 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of State Street by 443.1% during the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock worth $32,765,000 after purchasing an additional 363,399 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in State Street by 1,078.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock valued at $22,642,000 after buying an additional 280,019 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in State Street by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after buying an additional 259,729 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STT has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley increased their target price 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. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus target price of $92.11.

State Street Trading Up 1.6 %

Shares of STT stock traded up $1.55 during mid-day trading on Monday, reaching $99.05. The company’s stock had a trading volume of 278,550 shares, compared to its average volume of 2,192,949. The company’s 50 day simple moving average is $91.29 and its 200-day simple moving average is $83.01. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 12-month low of $69.56 and a 12-month high of $99.24. The firm has a market capitalization of $29.04 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.20 and a beta of 1.46.

State Street (NYSE:STT) last issued its 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 return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The company’s revenue was up 21.1% compared to the same quarter last year. On average, research analysts predict that State Street Co. will post 8.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

About State Street

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.