State Street Co. (NYSE:STT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its position in State Street Co. (NYSE:STT) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,693 shares of the asset manager’s stock after selling 2,660 shares during the quarter. MetLife Investment Management LLC’s holdings in State Street were worth $6,874,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STT. FMR LLC lifted its holdings in State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. LSV Asset Management raised its position in shares of State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd lifted its stake in shares of State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after buying an additional 161,466 shares in the last quarter. Cooke & Bieler LP boosted its position in State Street by 3.1% during the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock worth $262,795,000 after acquiring an additional 105,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in State Street by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after acquiring an additional 259,729 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 in the last ninety days. 0.31% of the stock is owned by corporate insiders.

State Street Trading Down 0.3 %

STT opened at $98.51 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market cap of $28.88 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.22 and a beta of 1.46. State Street Co. has a 52 week low of $70.20 and a 52 week high of $99.50. The business has a fifty day simple moving average of $92.42 and a 200-day simple moving average of $83.70.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the previous year, the company posted $1.93 EPS. State Street’s revenue was up 21.1% compared to the same quarter last year. On average, equities analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STT. Barclays raised their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price objective 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. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price objective 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 analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.11.

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.