MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $8.44 Million Stock Holdings in State Street Co. (NYSE:STT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its holdings in State Street Co. (NYSE:STT) by 11.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Albion Financial Group UT bought a new position in State Street in the fourth quarter valued at about $25,000. Coastline Trust Co bought a new stake in shares of State Street during the third quarter worth $44,000. Friedenthal Financial acquired a new position in State Street in the 4th quarter worth about $49,000. Capital Performance Advisors LLP bought a new position in State Street in the 3rd quarter valued at approximately $54,000. Finally, Versant Capital Management Inc boosted its position in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after buying an additional 197 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STT. Truist Financial decreased their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday. Evercore ISI boosted their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday. Finally, Barclays increased their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.73.

State Street Price Performance

Shares of NYSE:STT opened at $97.58 on Friday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company’s 50-day moving average is $97.86 and its 200 day moving average is $90.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $28.61 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

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

State Street Dividend Announcement

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

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated 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 sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.