MetLife Investment Management LLC Reduces Stock Position in State Street Co. (NYSE:STT)

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

Several other institutional investors and hedge funds have also made changes to their positions in the business. LRI Investments LLC purchased a new stake in State Street during the first quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street during the 2nd quarter worth approximately $27,000. Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at $44,000. Versant Capital Management Inc grew its position 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 buying an additional 416 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in State Street during the 3rd quarter worth $54,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays upped their price objective on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI upped their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.11.

State Street Trading Down 0.3 %

Shares of State Street stock opened at $98.51 on Friday. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth 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 company’s 50-day simple moving average is $92.42 and its 200-day simple moving average is $83.70. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. As a group, equities research analysts anticipate 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.