Mn Services Vermogensbeheer B.V. Trims Stake in State Street Co. (NYSE:STT)

Mn Services Vermogensbeheer B.V. cut its holdings in State Street Co. (NYSE:STT) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 118,319 shares of the asset manager’s stock after selling 2,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in State Street were worth $10,468,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of State Street by 10.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,095 shares of the asset manager’s stock worth $4,287,000 after buying an additional 5,383 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in State Street by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 55,003 shares of the asset manager’s stock valued at $4,253,000 after buying an additional 1,089 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in State Street by 34.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 38,502 shares of the asset manager’s stock valued at $2,977,000 after buying an additional 9,769 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in State Street by 39.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,233 shares of the asset manager’s stock valued at $1,178,000 after buying an additional 4,337 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in State Street by 41.1% in the 1st quarter. Mawer Investment Management Ltd. now owns 1,318,441 shares of the asset manager’s stock valued at $101,942,000 after buying an additional 383,744 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on STT shares. Bank of America lifted their price target on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Morgan Stanley lifted their price target on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup lifted their target price on 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 lifted their target price on State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays lifted their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $91.39.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

State Street Stock Performance

STT opened at $92.91 on Wednesday. The business’s 50 day moving average is $88.44 and its 200-day moving average is $81.04. The stock has a market cap of $27.74 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a twelve month low of $66.00 and a twelve month high of $94.60.

State Street (NYSE:STT) last released its quarterly earnings results 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. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. On average, analysts predict that State Street Co. will post 8.38 earnings per share for the current 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.