Mutual of America Capital Management LLC Sells 3,282 Shares of State Street Co. (NYSE:STT)

Mutual of America Capital Management LLC lowered its position in shares of State Street Co. (NYSE:STT) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,372 shares of the asset manager’s stock after selling 3,282 shares during the period. Mutual of America Capital Management LLC’s holdings in State Street were worth $3,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in STT. CVA Family Office LLC acquired a new stake in shares of State Street in the 4th quarter valued at $27,000. Venturi Wealth Management LLC raised its position in shares of State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in State Street in the 4th quarter valued at about $35,000. State of Wyoming increased its position in State Street by 51.3% in the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after buying an additional 210 shares in the last quarter. Finally, Covestor Ltd boosted its stake in State Street by 69.2% during the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of a number of analyst reports. Evercore ISI lifted their price target on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Argus upped their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday. Bank of America reaffirmed an “underperform” rating and issued a $81.00 target price on shares of State Street in a report on Thursday, January 4th. Finally, The Goldman Sachs Group raised State Street from a “neutral” rating to a “buy” rating and upped their target price for the company from $69.00 to $92.00 in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus target price of $84.04.

State Street Price Performance

Shares of NYSE STT opened at $72.81 on Thursday. The stock has a fifty day simple moving average of $73.97 and a two-hundred day simple moving average of $72.37. State Street Co. has a 1-year low of $62.78 and a 1-year high of $79.90. The firm has a market cap of $21.98 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

State Street (NYSE:STT) last posted its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 earnings per share. Analysts anticipate that State Street Co. will post 7.91 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.79%. State Street’s dividend payout ratio is currently 51.69%.

Insiders Place Their Bets

In related news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock worth $1,390,597 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.