Public Sector Pension Investment Board Purchases 1,200 Shares of State Street Co. (NYSE:STT)

Public Sector Pension Investment Board grew its position in State Street Co. (NYSE:STT) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,286 shares of the asset manager’s stock after purchasing an additional 1,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in State Street were worth $4,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of State Street by 5.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 311,977 shares of the asset manager’s stock valued at $27,601,000 after purchasing an additional 16,996 shares during the period. Providence Capital Advisors LLC increased its stake in State Street by 101,871.8% in the 3rd quarter. Providence Capital Advisors LLC now owns 72,400 shares of the asset manager’s stock worth $6,405,000 after buying an additional 72,329 shares in the last quarter. First Commonwealth Financial Corp PA bought a new stake in State Street during the third quarter valued at about $205,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of State Street by 88.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 359,000 shares of the asset manager’s stock valued at $31,761,000 after acquiring an additional 168,000 shares in the last quarter. Finally, Bridgewater Associates LP boosted its stake in shares of State Street by 2.8% in the third quarter. Bridgewater Associates LP now owns 198,406 shares of the asset manager’s stock worth $17,553,000 after acquiring an additional 5,311 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STT has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. 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. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley increased their price target on 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 given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.11.

State Street Price Performance

STT stock opened at $98.51 on Monday. The stock has a market cap of $28.88 billion, a PE ratio of 15.56, a P/E/G ratio of 1.22 and a beta of 1.46. State Street Co. has a 12 month low of $70.20 and a 12 month high of $99.50. The company has a 50-day moving average price of $92.42 and a 200 day moving average price of $83.79. 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 (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts anticipate that State Street Co. will post 8.42 earnings per share for the current year.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents 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 through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock valued at $2,499,860 in the last quarter. 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.