Mawer Investment Management Ltd. Has $73.15 Million Stake in State Street Co. (NYSE:STT)

Mawer Investment Management Ltd. trimmed its holdings in State Street Co. (NYSE:STT - Free Report) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 745,279 shares of the asset manager's stock after selling 118,872 shares during the quarter. Mawer Investment Management Ltd. owned about 0.25% of State Street worth $73,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new position in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd lifted its holdings in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in State Street in the 4th quarter valued at $42,000. Loomis Sayles & Co. L P increased its stake in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of State Street during the fourth quarter worth $49,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. Truist Financial dropped their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Evercore ISI reduced their price objective on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday. Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One investment 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $102.07.

Remove Ads

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated 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 sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

State Street Stock Down 6.4 %

Shares of NYSE:STT traded down $5.73 during midday trading on Thursday, reaching $83.86. 1,073,708 shares of the company were exchanged, compared to its average volume of 2,158,287. The firm has a market cap of $24.19 billion, a PE ratio of 10.18, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock has a fifty day simple moving average of $94.85 and a two-hundred day simple moving average of $94.62. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

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

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street's dividend payout ratio (DPR) is currently 36.89%.

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.