Mutual of America Capital Management LLC Decreases Stock Position in State Street Co. (NYSE:STT)

Mutual of America Capital Management LLC decreased its stake in shares of State Street Co. (NYSE:STT) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,774 shares of the asset manager’s stock after selling 1,218 shares during the quarter. Mutual of America Capital Management LLC’s holdings in State Street were worth $3,253,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STT. LRI Investments LLC purchased a new stake in shares of State Street during the first quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street in the 2nd quarter valued at approximately $27,000. Versant Capital Management Inc raised its holdings in shares of State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of State Street during the 3rd quarter worth $44,000. Finally, Trust Co. of Vermont grew its stake in shares of State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on STT shares. Barclays raised their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI raised their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.11.

Insider Activity

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Up 1.2 %

NYSE STT opened at $97.50 on Friday. The firm’s fifty day moving average is $91.29 and its two-hundred day moving average is $82.90. State Street Co. has a one year low of $69.56 and a one year high of $98.45. 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 firm has a market cap of $28.58 billion, a PE ratio of 15.40, a P/E/G ratio of 1.17 and a beta of 1.46.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The firm 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 firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

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.