MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Holdings in State Street Co. (NYSE:STT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in shares of State Street Co. (NYSE:STT) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,922 shares of the asset manager’s stock after selling 11,231 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in State Street were worth $8,444,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in State Street during the 4th quarter worth about $296,000. Donoghue Forlines LLC bought a new stake in shares of State Street during the fourth quarter valued at about $1,530,000. Mutual Advisors LLC bought a new position in shares of State Street in the fourth quarter valued at approximately $207,000. Janney Montgomery Scott LLC boosted its position in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after acquiring an additional 7,446 shares during the period. Finally, SG Americas Securities LLC grew its stake in State Street by 569.1% during the fourth quarter. SG Americas Securities LLC now owns 16,861 shares of the asset manager’s stock valued at $1,655,000 after acquiring an additional 14,341 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction 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 in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

State Street Stock Up 0.4 %

Shares of NYSE STT opened at $97.58 on Friday. The firm’s fifty day moving average is $97.86 and its 200 day moving average is $90.13. State Street Co. has a 52 week low of $70.20 and a 52 week high of $101.91. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $28.61 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3,267,560 billion. During the same quarter in the previous year, the company earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that State Street Co. will post 9.43 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Thursday, January 2nd. State Street’s payout ratio is presently 36.89%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on STT shares. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted 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. Truist Financial reduced their target price on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday. Barclays raised their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.73.

About State Street

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.