State Street Co. (NYSE:STT) Holdings Lowered by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its stake in State Street Co. (NYSE:STT) by 61.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,855 shares of the asset manager’s stock after selling 124,067 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in State Street were worth $7,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in shares of State Street during the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street during the 4th quarter valued at $42,000. Coppell Advisory Solutions LLC lifted its holdings in shares of State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity at State Street

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

State Street Stock Performance

Shares of NYSE STT opened at $93.81 on Friday. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. 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 $26.75 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.11 and a beta of 1.42. The business’s 50 day moving average is $86.36 and its two-hundred day moving average is $93.61.

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

State Street Announces Dividend

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

Analyst Upgrades and Downgrades

STT has been the topic of several research reports. The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the company a “buy” rating in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Bank of America boosted their target price on State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. Truist Financial cut their price target on State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Finally, Barclays dropped their price objective on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $102.15.

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.