State Street Co. (NYSE:STT) Stock Position Cut by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lessened its stake in shares of State Street Co. (NYSE:STT) by 31.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 864,151 shares of the asset manager’s stock after selling 394,687 shares during the quarter. Mawer Investment Management Ltd.’s holdings in State Street were worth $76,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its position in State Street by 3.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock worth $15,376,000 after purchasing an additional 6,363 shares during the period. Cetera Investment Advisers increased its holdings in shares of State Street by 127.8% during the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after acquiring an additional 24,906 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of State Street by 44.7% during the 1st quarter. Edgestream Partners L.P. now owns 30,745 shares of the asset manager’s stock worth $2,377,000 after acquiring an additional 9,499 shares during the last quarter. Bayesian Capital Management LP acquired a new position in State Street in the 1st quarter valued at $908,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of State Street by 17.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after acquiring an additional 20,183 shares during the period. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. 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 report on Friday. The Goldman Sachs Group upped their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Evercore ISI increased their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays raised their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Price Performance

STT traded up $0.33 on Monday, hitting $95.81. 67,212 shares of the company were exchanged, compared to its average volume of 2,207,858. State Street Co. has a fifty-two week low of $68.99 and a fifty-two week high of $98.45. The business’s fifty day moving average is $90.00 and its 200 day moving average is $82.26. The firm has a market capitalization of $28.09 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 EPS. As a group, sell-side analysts anticipate that State Street Co. will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by 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.