B. Metzler seel. Sohn & Co. AG Reduces Holdings in State Street Co. (NYSE:STT)

B. Metzler seel. Sohn & Co. AG reduced its position in State Street Co. (NYSE:STT) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 37,126 shares of the asset manager’s stock after selling 3,170 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in State Street were worth $3,644,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Albion Financial Group UT acquired a new position in State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd increased its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the fourth quarter worth approximately $42,000. Loomis Sayles & Co. L P lifted its holdings in shares of State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial purchased a new position in State Street in the 4th quarter valued at $49,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Price Performance

State Street stock opened at $88.82 on Wednesday. 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 firm’s 50-day simple moving average is $94.99 and its 200 day simple moving average is $94.65. State Street Co. has a 52 week low of $70.20 and a 52 week high of $103.00. The firm has a market capitalization of $25.62 billion, a PE ratio of 10.78, a P/E/G ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the business earned $2.04 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts predict that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is 36.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial reduced their price objective 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, January 21st. Citigroup dropped their target price on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. 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, Evercore ISI dropped their price objective on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $102.33.

Insider Transactions at State Street

In other news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 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.