MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Holdings in State Street Co. (NYSE:STT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in State Street Co. (NYSE:STT - Free Report) by 84.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,551 shares of the asset manager's stock after selling 72,371 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in State Street were worth $1,213,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STT. Brighton Jones LLC acquired a new stake in State Street during the fourth quarter worth $296,000. Empowered Funds LLC boosted its stake in State Street by 47.4% during the fourth quarter. Empowered Funds LLC now owns 7,267 shares of the asset manager's stock worth $708,000 after buying an additional 2,338 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of State Street by 49.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,704 shares of the asset manager's stock valued at $462,000 after acquiring an additional 1,561 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of State Street by 3.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 141,862 shares of the asset manager's stock worth $13,983,000 after acquiring an additional 4,822 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of State Street by 4.5% during the 4th quarter. Vontobel Holding Ltd. now owns 27,216 shares of the asset manager's stock worth $2,671,000 after purchasing an additional 1,183 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America upped their price target on State Street from $98.00 to $99.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 2nd. 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, April 1st. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company decreased their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, The Goldman Sachs Group set a $98.00 price target on shares of State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $102.54.

State Street Price Performance

State Street stock traded up $1.23 during midday trading on Monday, reaching $97.37. The company's stock had a trading volume of 1,526,543 shares, compared to its average volume of 2,058,946. The firm has a market capitalization of $27.77 billion, a PE ratio of 11.82, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The stock's 50 day simple moving average is $91.21 and its 200 day simple moving average is $93.99. 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 - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the prior year, the business posted $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 firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.12%. State Street's dividend payout ratio (DPR) is currently 34.12%.

Insider Buying and Selling

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% 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.