National Bank of Canada FI Buys 442,725 Shares of State Street Co. (NYSE:STT)

National Bank of Canada FI lifted its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 99.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 888,146 shares of the asset manager's stock after buying an additional 442,725 shares during the period. National Bank of Canada FI owned about 0.30% of State Street worth $78,574,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC grew its stake in State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock valued at $514,136,000 after purchasing an additional 1,354,560 shares in the last quarter. LSV Asset Management grew its stake in shares of State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager's stock valued at $390,897,000 after buying an additional 1,238,251 shares in the last quarter. FMR LLC increased its holdings in 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 buying an additional 833,679 shares during the last quarter. Metropolis Capital Ltd raised its position in State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager's stock worth $305,238,000 after acquiring an additional 479,205 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager's stock valued at $45,889,000 after acquiring an additional 462,201 shares during the last quarter. Institutional investors own 87.44% of the company's stock.

State Street Price Performance

Shares of NYSE STT traded down $0.19 during midday trading on Friday, reaching $98.41. The company's stock had a trading volume of 1,726,253 shares, compared to its average volume of 1,790,584. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $28.85 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.20 and a beta of 1.44. The business's 50 day moving average price is $93.37 and its two-hundred day moving average price is $84.52. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $99.75.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 EPS. On average, analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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 research note on Monday, November 11th. 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 research note on Friday, November 15th. StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a report on Monday, December 2nd. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Finally, Evercore ISI increased their price objective on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, State Street presently has a consensus rating of "Hold" and an average price target of $94.68.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 13,859 shares of the business's 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm's stock in a transaction on 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 directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 over the last quarter. 0.31% of the stock is owned by company insiders.

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.