Mawer Investment Management Ltd. Sells 394,687 Shares of State Street Co. (NYSE:STT)

Mawer Investment Management Ltd. trimmed its position in State Street Co. (NYSE:STT) by 31.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 864,151 shares of the asset manager’s stock after selling 394,687 shares during the period. Mawer Investment Management Ltd. owned approximately 0.29% of State Street worth $76,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STT. Empowered Funds LLC increased its stake in State Street by 14.9% in the first quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager’s stock valued at $296,000 after acquiring an additional 498 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of State Street by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 198,891 shares of the asset manager’s stock valued at $15,376,000 after buying an additional 6,363 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of State Street by 165.9% in the 1st quarter. Acadian Asset Management LLC now owns 134,998 shares of the asset manager’s stock worth $10,433,000 after buying an additional 84,234 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of State Street by 12.7% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 17,315 shares of the asset manager’s stock worth $1,339,000 after purchasing an additional 1,946 shares during the period. Finally, Edgestream Partners L.P. increased its stake in shares of State Street by 44.7% in the first 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 period. 87.44% of the stock is owned by institutional investors.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 13,859 shares of the 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 transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STT. Barclays lifted their price target 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. Citigroup boosted their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley increased their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.11.

State Street Price Performance

Shares of NYSE STT traded up $0.33 during mid-day trading on Monday, hitting $95.81. 67,212 shares of the company’s stock traded hands, compared to its average volume of 2,207,858. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1 year low of $68.99 and a 1 year high of $98.45. The company has a market capitalization of $28.09 billion, a P/E ratio of 15.08, a PEG ratio of 1.18 and a beta of 1.46. The company’s 50-day moving average is $90.00 and its two-hundred day moving average is $82.26.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the company posted $1.93 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. On average, equities analysts anticipate that State Street Co. will post 8.42 EPS for the current fiscal year.

About State Street

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.