Mn Services Vermogensbeheer B.V. Has $9.99 Million Stock Holdings in State Street Co. (NYSE:STT)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of State Street Co. (NYSE:STT - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,619 shares of the asset manager's stock after selling 8,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in State Street were worth $9,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the fourth quarter worth $42,000. Coppell Advisory Solutions LLC grew its stake 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 worth $42,000 after acquiring an additional 412 shares during the last quarter. Loomis Sayles & Co. L P grew its stake 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 acquiring an additional 311 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of State Street in the fourth quarter worth $49,000. Finally, MV Capital Management Inc. grew its stake in shares of State Street by 98.4% in the first quarter. MV Capital Management Inc. now owns 506 shares of the asset manager's stock worth $45,000 after acquiring an additional 251 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.

State Street Stock Up 1.3%

Shares of NYSE STT opened at $97.37 on Tuesday. The stock has a market cap of $27.77 billion, a PE ratio of 11.82, a PEG ratio of 1.11 and a beta of 1.44. The business has a fifty day moving average of $91.66 and a two-hundred day moving average of $93.99. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. 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 quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period last year, the business earned $1.69 earnings per share. As a group, equities research analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed 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 is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. State Street's payout ratio is presently 34.12%.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,354 shares of the company's stock, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on STT shares. Wells Fargo & Company lowered their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Morgan Stanley set a $110.00 target price on State Street and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Truist Financial raised State Street from a "hold" rating to a "buy" rating and raised their target price for the stock from $85.00 to $112.00 in a research report on Wednesday, May 28th. Cfra Research cut State Street from a "moderate buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, Keefe, Bruyette & Woods reduced their target price on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $102.54.

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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