Vinva Investment Management Ltd Purchases 113,955 Shares of State Street Co. (NYSE:STT)

Vinva Investment Management Ltd raised its position in shares of State Street Co. (NYSE:STT) by 98.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,990 shares of the asset manager’s stock after acquiring an additional 113,955 shares during the quarter. State Street comprises 0.9% of Vinva Investment Management Ltd’s investment portfolio, making the stock its 14th biggest holding. Vinva Investment Management Ltd owned about 0.08% of State Street worth $22,603,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of STT. OneDigital Investment Advisors LLC acquired a new position in shares of State Street during the third quarter valued at about $270,000. Empowered Funds LLC raised its holdings in shares of State Street by 11.4% during the third quarter. Empowered Funds LLC now owns 4,929 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 504 shares during the period. Natixis Advisors LLC raised its holdings in shares of State Street by 1.2% during the third quarter. Natixis Advisors LLC now owns 238,952 shares of the asset manager’s stock valued at $21,140,000 after purchasing an additional 2,772 shares during the period. Pathstone Holdings LLC raised its holdings in shares of State Street by 1.2% during the third quarter. Pathstone Holdings LLC now owns 74,575 shares of the asset manager’s stock valued at $6,598,000 after purchasing an additional 856 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of State Street by 26.9% during the third quarter. Meeder Asset Management Inc. now owns 209,391 shares of the asset manager’s stock valued at $18,525,000 after purchasing an additional 44,330 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 0.3 %

State Street stock opened at $88.04 on Wednesday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The firm has a 50 day moving average price of $96.29 and a 200-day moving average price of $94.19. The company has a market capitalization of $25.40 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the prior year, the firm earned $2.04 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Insider Buying and Selling

In related news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company upped their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, January 2nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Barclays upped their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street currently has a consensus rating of “Hold” and a consensus price target of $101.20.

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.