Qsemble Capital Management LP Invests $3.69 Million in State Street Co. (NYSE:STT)

Qsemble Capital Management LP purchased a new position in State Street Co. (NYSE:STT) during the 3rd quarter, HoldingsChannel reports. The firm purchased 41,659 shares of the asset manager’s stock, valued at approximately $3,686,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STT. LRI Investments LLC bought a new stake in State Street in the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the 2nd quarter valued at approximately $27,000. Versant Capital Management Inc raised its stake in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Coastline Trust Co acquired a new position in State Street during the 3rd quarter worth $44,000. Finally, Trust Co. of Vermont raised its stake in shares of State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock traded up $1.55 during mid-day trading on Monday, reaching $99.05. The company had a trading volume of 278,550 shares, compared to its average volume of 2,192,949. The company has a 50 day moving average of $91.29 and a 200-day moving average of $83.01. State Street Co. has a 52 week low of $69.56 and a 52 week high of $99.24. 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 firm has a market cap of $29.04 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.20 and a beta of 1.46.

State Street (NYSE:STT) last released its quarterly earnings data 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 business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. On average, sell-side analysts expect that State Street Co. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group increased 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.11.

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.