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

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in State Street Co. (NYSE:STT) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,977 shares of the asset manager’s stock after buying an additional 16,996 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of State Street worth $27,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in State Street by 6.7% during the 1st quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock valued at $552,000 after purchasing an additional 448 shares during the last quarter. Virtu Financial LLC bought a new position in shares of State Street in the first quarter valued at about $300,000. LRI Investments LLC bought a new position in shares of State Street in the first quarter valued at about $25,000. Swedbank AB acquired a new stake in shares of State Street during the 1st quarter worth about $10,456,000. Finally, Burney Co. boosted its holdings in shares of State Street by 2.7% during the 1st quarter. Burney Co. now owns 10,916 shares of the asset manager’s stock worth $844,000 after buying an additional 286 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their target price on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley upped their price target 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. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.11.

State Street Price Performance

Shares of NYSE:STT opened at $98.51 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $28.88 billion, a PE ratio of 15.56, a PEG ratio of 1.22 and a beta of 1.46. The firm has a 50 day moving average of $92.42 and a 200-day moving average of $83.70. State Street Co. has a 12 month low of $70.20 and a 12 month high of $99.50.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during 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%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.93 earnings per share. On average, equities research analysts predict that State Street Co. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on 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. The trade was a 20.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock worth $2,499,860 in the last ninety days. 0.31% of the stock is owned by insiders.

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.