Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in State Street Co. (NYSE:STT)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in State Street Co. (NYSE:STT - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,307 shares of the asset manager's stock after selling 8,670 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.10% of State Street worth $29,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager's stock worth $632,111,000 after purchasing an additional 41,442 shares in the last quarter. FMR LLC grew its stake in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock valued at $540,796,000 after buying an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock worth $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. Amundi lifted its holdings in State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock worth $306,116,000 after purchasing an additional 408,792 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.

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State Street Stock Down 1.2 %

STT stock traded down $1.01 during mid-day trading on Tuesday, reaching $85.79. The company had a trading volume of 2,480,068 shares, compared to its average volume of 2,074,705. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day simple moving average of $97.43 and a two-hundred day simple moving average of $94.15. The company has a market capitalization of $24.75 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the company posted $2.04 EPS. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.54%. State Street's payout ratio is currently 36.89%.

Insider Buying and Selling

In related news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

STT has been the subject of a number of recent research reports. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Finally, StockNews.com lowered State Street from a "buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $101.20.

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.