State Street Co. (NYSE:STT) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG lessened its holdings in State Street Co. (NYSE:STT) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,126 shares of the asset manager’s stock after selling 3,170 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in State Street were worth $3,644,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new stake in State Street in the 4th quarter worth approximately $272,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in State Street by 3.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock valued at $44,725,000 after purchasing an additional 14,476 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock valued at $184,025,000 after purchasing an additional 10,404 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of State Street by 11.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after purchasing an additional 7,446 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in State Street during the 4th quarter valued at approximately $395,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Down 0.8 %

State Street stock opened at $88.82 on Wednesday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm has a 50 day moving average price of $94.99 and a 200 day moving average price of $94.65. The company has a market capitalization of $25.62 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

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

State Street Dividend Announcement

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

Insider Activity at State Street

In other State Street news, 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 sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street 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 of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Barclays boosted their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Truist Financial lowered their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $102.33.

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.