Aigen Investment Management LP Makes New $2.40 Million Investment in State Street Co. (NYSE:STT)

Aigen Investment Management LP acquired a new position in State Street Co. (NYSE:STT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,154 shares of the asset manager’s stock, valued at approximately $2,402,000.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock worth $15,376,000 after purchasing an additional 6,363 shares in the last quarter. M&G Plc purchased a new position in State Street during the first quarter valued at approximately $7,626,000. Cetera Investment Advisers lifted its position in State Street by 127.8% during the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after purchasing an additional 24,906 shares during the last quarter. Edgestream Partners L.P. lifted its position in State Street by 44.7% during the first quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager’s stock valued at $2,377,000 after purchasing an additional 9,499 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in State Street during the first quarter valued at approximately $908,000. Institutional investors own 87.44% of the company’s stock.

State Street Trading Down 0.1 %

State Street stock traded down $0.09 during mid-day trading on Tuesday, reaching $96.46. 88,076 shares of the company traded hands, compared to its average volume of 2,214,856. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50 day moving average price is $89.21 and its 200 day moving average price is $81.65. The firm has a market capitalization of $28.28 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.21 and a beta of 1.46. State Street Co. has a 52-week low of $66.86 and a 52-week high of $98.45.

State Street (NYSE:STT) last issued 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 the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 EPS. On average, analysts anticipate that State Street Co. will post 8.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

STT has been the subject of several research analyst reports. Barclays lifted their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America boosted their price objective on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street has a consensus rating of “Hold” and a consensus target price of $91.96.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction dated 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 directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

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.