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

Mawer Investment Management Ltd. lowered its position in shares of State Street Co. (NYSE:STT) by 13.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 745,279 shares of the asset manager’s stock after selling 118,872 shares during the period. Mawer Investment Management Ltd.’s holdings in State Street were worth $73,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of State Street by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after purchasing an additional 41,442 shares in the last quarter. FMR LLC grew its position in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after buying an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the last quarter. Amundi raised its holdings in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after acquiring an additional 561,773 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after acquiring an additional 408,792 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT stock opened at $88.95 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a market capitalization of $25.66 billion, a P/E ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. The stock has a 50 day moving average price of $95.35 and a two-hundred day moving average price of $94.48.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 earnings per share. Analysts expect that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.42%. State Street’s dividend payout ratio is presently 36.89%.

Analysts Set New Price Targets

STT has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Barclays increased their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research note on Friday, December 20th. Finally, Truist Financial reduced their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.53.

Insider Buying and Selling

In other news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently 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.