B. Metzler seel. Sohn & Co. AG Sells 15,263 Shares of State Street Corporation $STT

Key Points

• B. Metzler seel. Sohn & Co. AG has reduced its stake in State Street Corporation by 41.1%, selling 15,263 shares and now holding a total of 21,863 shares valued at approximately $1.96 million.
• State Street has recently announced a quarterly dividend increase to $0.84 per share, up from $0.76, reflecting a commitment to returning value to shareholders.
• In its latest earnings report, State Street beat analysts' expectations with earnings per share of $2.53 and a revenue of $3.47 billion, indicating a yearly revenue growth of 2.9%.

B. Metzler seel. Sohn & Co. AG trimmed its stake in State Street Corporation (NYSE:STT - Free Report) by 41.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,863 shares of the asset manager's stock after selling 15,263 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in State Street were worth $1,957,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Meeder Advisory Services Inc. boosted its stake in shares of State Street by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager's stock worth $515,000 after acquiring an additional 114 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of State Street by 2.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock worth $395,000 after buying an additional 118 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of State Street by 40.8% during the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of State Street by 5.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager's stock worth $201,000 after buying an additional 126 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in State Street by 13.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,157 shares of the asset manager's stock worth $104,000 after purchasing an additional 134 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

State Street Stock Down 0.2%

Shares of NYSE:STT opened at $115.02 on Friday. State Street Corporation has a 1 year low of $72.81 and a 1 year high of $116.37. The company has a market cap of $32.63 billion, a PE ratio of 12.88, a P/E/G ratio of 1.13 and a beta of 1.48. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.57 and a quick ratio of 0.57. The stock's 50-day moving average is $110.06 and its 200 day moving average is $98.03.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.17. State Street had a return on equity of 12.96% and a net margin of 12.59%.The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the business earned $2.15 EPS. State Street's revenue was up 2.9% compared to the same quarter last year. Sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.84 per share. This is a positive change from State Street's previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. State Street's dividend payout ratio (DPR) is currently 34.04%.

Insider Activity at State Street

In other news, EVP Michael L. Richards sold 990 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total value of $108,197.10. Following the sale, the executive vice president directly owned 41,332 shares of the company's stock, valued at $4,517,174.28. The trade was a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on State Street from $98.00 to $111.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI raised their target price on State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Bank of America increased their price target on State Street from $106.00 to $109.00 and gave the stock an "underperform" rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their target price on State Street from $113.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley raised their target price on State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $112.82.

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.

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