State Street Corporation $STT Position Lessened by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. reduced its stake in shares of State Street Corporation (NYSE:STT) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,659 shares of the asset manager’s stock after selling 154,878 shares during the quarter. Mawer Investment Management Ltd. owned about 0.13% of State Street worth $38,459,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital Analysts LLC boosted its holdings in shares of State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 274 shares during the period. Larson Financial Group LLC increased its holdings in shares of State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after acquiring an additional 118 shares during the period. Zions Bancorporation National Association UT bought a new stake in State Street in the 1st quarter valued at about $46,000. CVA Family Office LLC boosted its stake in State Street by 45.8% during the 2nd quarter. CVA Family Office LLC now owns 560 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 176 shares during the period. Finally, Sarver Vrooman Wealth Advisors bought a new position in State Street in the 2nd quarter worth about $77,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares in the company, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on STT shares. Citigroup lifted their price target on State Street from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, October 24th. Bank of America lifted their target price on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research note on Wednesday, July 16th. Truist Financial reduced their price target on State Street from $133.00 to $131.00 and set a “buy” rating for the company in a research report on Monday, October 20th. BMO Capital Markets started coverage on State Street in a report on Friday, October 3rd. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.92.

State Street Trading Up 1.2%

Shares of State Street stock opened at $119.75 on Tuesday. The business has a fifty day simple moving average of $114.64 and a 200-day simple moving average of $107.48. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $120.40. The firm has a market cap of $33.45 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, topping the consensus estimate of $2.57 by $0.21. State Street had a net margin of 13.14% and a return on equity of 13.37%. The firm had revenue of $13 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the business earned $2.26 earnings per share. State Street’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that State Street Corporation will post 9.68 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.