State Street Corporation $STT Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in State Street Corporation (NYSE:STT) by 2.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 32,707 shares of the asset manager’s stock after selling 840 shares during the quarter. Mutual of America Capital Management LLC’s holdings in State Street were worth $3,478,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Pacific Financial acquired a new position in State Street in the first quarter valued at about $25,000. Capital Analysts LLC lifted its position in State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after buying an additional 274 shares during the last quarter. Larson Financial Group LLC lifted its position in State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after buying an additional 118 shares during the last quarter. Golden State Wealth Management LLC lifted its position in State Street by 186.7% in the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock valued at $43,000 after buying an additional 310 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in State Street in the first quarter valued at about $46,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on STT shares. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on shares of State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Bank of America increased their price target on shares of State Street from $106.00 to $109.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 16th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.42.

State Street Stock Up 1.3%

STT stock opened at $114.65 on Friday. The company’s 50 day moving average price is $113.82 and its 200 day moving average price is $103.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $118.24. The firm has a market capitalization of $32.53 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.20 and a beta of 1.46.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.43 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal 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.