DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 124,067 Shares of State Street Co. (NYSE:STT)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its holdings in shares of State Street Co. (NYSE:STT) by 61.7% in the fourth quarter, HoldingsChannel reports. The firm owned 76,855 shares of the asset manager’s stock after selling 124,067 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in State Street were worth $7,543,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock valued at $737,162,000 after buying an additional 406,396 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock worth $704,238,000 after acquiring an additional 24,617 shares during the last quarter. FMR LLC lifted its position in shares of State Street by 14.2% during the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Amundi grew its stake in shares of State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of State Street by 15.7% in the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock valued at $407,166,000 after purchasing an additional 563,790 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Price Performance

Shares of STT stock opened at $93.81 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm has a fifty day moving average of $86.36 and a 200-day moving average of $93.61. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the prior year, the company earned $1.69 earnings per share. On average, equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a yield of 3.24%. State Street’s dividend payout ratio (DPR) is currently 34.12%.

Analyst Ratings Changes

Several research firms have issued reports on STT. Citigroup reduced their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial decreased their price target on State Street from $89.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 21st. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley reduced their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Evercore ISI dropped their price target on shares of State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.15.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,820 shares of company stock valued at $1,567,972. 0.29% of the stock is currently owned by corporate insiders.

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.