Zurcher Kantonalbank Zurich Cantonalbank Purchases 16,996 Shares of State Street Co. (NYSE:STT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of State Street Co. (NYSE:STT) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,977 shares of the asset manager’s stock after purchasing an additional 16,996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in State Street were worth $27,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STT. LSV Asset Management grew its holdings 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 worth $390,897,000 after acquiring an additional 1,238,251 shares during the last quarter. FMR LLC lifted its holdings in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after purchasing an additional 833,679 shares during the period. Metropolis Capital Ltd grew its stake in shares of State Street by 13.1% in 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 increased its holdings in State Street by 443.1% in the second quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager’s stock valued at $32,765,000 after purchasing an additional 363,399 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in State Street by 1,078.9% in the second 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 purchasing an additional 280,019 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT opened at $98.51 on Friday. The business’s fifty day moving average is $92.42 and its 200 day moving average is $83.70. 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 stock has a market cap of $28.88 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.22 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 for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share. Sell-side analysts anticipate that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. 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. Finally, Evercore ISI increased their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.11.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the 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 in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the firm’s 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by corporate 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.