Hotchkis & Wiley Capital Management LLC Has $514.14 Million Stock Position in State Street Co. (NYSE:STT)

Hotchkis & Wiley Capital Management LLC grew its holdings in State Street Co. (NYSE:STT) by 30.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,811,415 shares of the asset manager’s stock after acquiring an additional 1,354,560 shares during the quarter. State Street accounts for about 1.7% of Hotchkis & Wiley Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Hotchkis & Wiley Capital Management LLC owned about 1.98% of State Street worth $514,136,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of STT. Hilltop Holdings Inc. lifted its holdings in State Street by 12.8% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,152 shares of the asset manager’s stock worth $367,000 after purchasing an additional 472 shares during the last quarter. Cinctive Capital Management LP increased its holdings in State Street by 7.5% in the third quarter. Cinctive Capital Management LP now owns 107,642 shares of the asset manager’s stock worth $9,523,000 after purchasing an additional 7,534 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in State Street in the third quarter worth approximately $1,066,000. Point72 Hong Kong Ltd acquired a new position in State Street during the 3rd quarter valued at about $7,543,000. Finally, Verition Fund Management LLC boosted its position in shares of State Street by 57.3% during the third quarter. Verition Fund Management LLC now owns 39,854 shares of the asset manager’s stock valued at $3,526,000 after buying an additional 14,517 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated 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 transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % 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 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of research reports. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley upped their price objective on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Evercore ISI boosted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus target price of $92.11.

State Street Stock Down 0.5 %

Shares of State Street stock opened at $98.03 on Tuesday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $99.50. 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 capitalization of $28.74 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The stock’s fifty day moving average is $92.42 and its 200-day moving average is $83.79.

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. Equities analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.

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.