Universal Beteiligungs und Servicegesellschaft mbH Has $38.64 Million Position in State Street Corporation $STT

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH trimmed its stake in State Street by 4.8% in Q4 and now holds 298,657 shares (about 0.11%) valued at roughly $38.64 million.
• State Street beat quarterly estimates with $2.84 EPS vs. $2.64 expected and $3.80B in revenue (up 15.6% YoY), and recently paid a $0.84 quarterly dividend (annualized $3.36, ~2.2% yield).
• Major institutional moves include a new ~$324.6M stake by Regents of the University of California and large increases from Two Sigma, First Trust and others, leaving institutions/hedge funds with ~87.44% ownership; analysts hold a "Moderate Buy" consensus with an average target of $154.

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in State Street Corporation (NYSE:STT - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,657 shares of the asset manager's stock after selling 15,186 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.11% of State Street worth $38,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in STT. Regents of The University of California acquired a new stake in shares of State Street in the 3rd quarter valued at approximately $324,576,000. Two Sigma Investments LP boosted its stake in shares of State Street by 261.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager's stock valued at $141,277,000 after purchasing an additional 880,507 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of State Street by 36.8% in the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager's stock valued at $318,754,000 after purchasing an additional 738,456 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of State Street in the 3rd quarter valued at approximately $62,092,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of State Street by 157.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 863,666 shares of the asset manager's stock valued at $100,194,000 after purchasing an additional 528,246 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other State Street news, EVP John Plansky sold 16,100 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the sale, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. The trade was a 22.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

State Street Stock Performance

NYSE:STT opened at $151.25 on Friday. The company has a fifty day moving average of $130.35 and a 200-day moving average of $125.92. The firm has a market capitalization of $41.90 billion, a P/E ratio of 15.34, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a quick ratio of 0.61, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. State Street Corporation has a twelve month low of $85.05 and a twelve month high of $156.18.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.20. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. State Street's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.04 EPS. As a group, sell-side analysts anticipate that State Street Corporation will post 12.23 EPS for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street's payout ratio is 34.08%.

Analysts Set New Price Targets

Several research firms recently commented on STT. Argus lifted their target price on shares of State Street from $140.00 to $168.00 and gave the stock a "buy" rating in a research report on Tuesday. Bank of America upgraded shares of State Street from an "underperform" rating to a "neutral" rating and set a $143.00 target price on the stock in a research report on Monday, April 6th. Loop Capital set a $144.00 target price on shares of State Street in a research report on Tuesday, January 6th. Citigroup began coverage on shares of State Street in a research report on Monday, February 23rd. They set a "buy" rating and a $150.00 target price on the stock. Finally, TD Cowen reiterated a "buy" rating on shares of State Street in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $154.00.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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