Mawer Investment Management Ltd. Lowers Stake in State Street Co. (NYSE:STT)

Mawer Investment Management Ltd. lowered its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 31.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 864,151 shares of the asset manager's stock after selling 394,687 shares during the period. Mawer Investment Management Ltd. owned 0.29% of State Street worth $76,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STT. LSV Asset Management lifted its stake 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 acquiring an additional 1,238,251 shares during the period. Jacobs Levy Equity Management Inc. boosted 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 valued at $58,117,000 after purchasing an additional 634,422 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in State Street by 168.7% in the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager's stock valued at $62,469,000 after purchasing an additional 507,270 shares in the last quarter. Metropolis Capital Ltd increased its position in State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager's stock worth $305,238,000 after purchasing an additional 479,205 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of State Street by 443.1% during the 2nd quarter. National Bank of Canada FI now owns 445,421 shares of the asset manager's stock worth $32,765,000 after buying an additional 363,399 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STT has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective 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 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. Morgan Stanley raised their price objective on shares of State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $92.11.

Insider Buying and Selling at State Street

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 directly owns 55,108 shares of the company's stock, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.

State Street Price Performance

STT stock traded up $0.64 during trading on Monday, hitting $96.12. The stock had a trading volume of 1,527,234 shares, compared to its average volume of 2,214,409. The stock has a market cap of $28.18 billion, a price-to-earnings 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. The company's 50 day moving average price is $90.00 and its two-hundred day moving average price is $82.26. State Street Co. has a 1-year low of $68.99 and a 1-year high of $98.45.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. 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 posted $1.93 earnings per share. The company's revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts forecast that State Street Co. will post 8.42 EPS for the current fiscal year.

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.