Zurcher Kantonalbank Zurich Cantonalbank Has $21.57 Million Stake in State Street Co. (NYSE:STT)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in State Street Co. (NYSE:STT) by 8.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,403 shares of the asset manager’s stock after selling 25,861 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of State Street worth $21,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CVA Family Office LLC acquired a new stake in State Street in the 4th quarter worth about $27,000. Venturi Wealth Management LLC raised its position in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of State Street in the 4th quarter valued at approximately $35,000. State of Wyoming raised its position in shares of State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after buying an additional 210 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of State Street by 69.2% in the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 0.3 %

NYSE:STT opened at $72.81 on Thursday. The firm’s fifty day moving average is $73.97 and its 200-day moving average is $72.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a market cap of $21.98 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the firm posted $2.07 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts expect that State Street Co. will post 7.91 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Monday, April 1st were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 28th. State Street’s dividend payout ratio is presently 51.69%.

Insider Buying and Selling

In related news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on STT shares. UBS Group boosted their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Royal Bank of Canada upped their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, January 22nd. Evercore ISI upped their price objective on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.04.

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.