Banque Cantonale Vaudoise Buys 23,171 Shares of State Street Co. (NYSE:STT)

Banque Cantonale Vaudoise raised its position in shares of State Street Co. (NYSE:STT) by 118.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,667 shares of the asset manager’s stock after buying an additional 23,171 shares during the period. Banque Cantonale Vaudoise’s holdings in State Street were worth $3,775,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. LSV Asset Management grew its position in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in State Street by 541.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after purchasing an additional 634,422 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of State Street by 168.7% in the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after purchasing an additional 507,270 shares during the period. Metropolis Capital Ltd boosted its stake in shares of State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of State Street by 443.1% during 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 buying an additional 363,399 shares during the period. 87.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on STT. The Goldman Sachs Group lifted their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Evercore ISI upped their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.11.

State Street Stock Performance

STT stock opened at $94.71 on Wednesday. The stock’s 50 day simple moving average is $90.48 and its 200 day simple moving average is $82.57. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 12-month low of $68.99 and a 12-month high of $98.45. The stock has a market capitalization of $27.76 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

State Street (NYSE:STT) last posted its quarterly 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. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. As a group, research analysts forecast that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Plansky sold 13,859 shares of the firm’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 value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.