Universal Beteiligungs und Servicegesellschaft mbH Increases Stake in State Street Corporation (NYSE:STT)

Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of State Street Corporation (NYSE:STT - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 357,005 shares of the asset manager's stock after purchasing an additional 44,988 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.12% of State Street worth $31,963,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of State Street during the 4th quarter valued at $161,021,000. Price T Rowe Associates Inc. MD increased its stake in shares of State Street by 236.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock worth $226,642,000 after purchasing an additional 1,622,408 shares in the last quarter. FMR LLC lifted its stake in shares of State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after buying an additional 870,849 shares in the last quarter. Azora Capital LP bought a new position in State Street in the 4th quarter worth approximately $80,294,000. Finally, Northern Trust Corp grew its stake in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after buying an additional 563,790 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Michael L. Richards sold 990 shares of the company'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 transaction 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. This represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This represents a 15.02% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on State Street from $113.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Cfra Research raised State Street from a "hold" rating to a "moderate buy" rating in a report on Tuesday, July 15th. Evercore ISI raised their price objective on shares of State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Citigroup boosted their price objective on shares of State Street from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial lowered their target price on shares of State Street from $122.00 to $116.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $112.00.

State Street Price Performance

Shares of STT stock traded up $0.37 during trading hours on Thursday, hitting $111.02. 1,999,777 shares of the company's stock were exchanged, compared to its average volume of 2,346,665. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.09. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $111.61. The business's 50 day simple moving average is $102.31 and its 200-day simple moving average is $95.57. The company has a market capitalization of $31.66 billion, a PE ratio of 12.43, a PEG ratio of 1.23 and a beta of 1.45.

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

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Wednesday, October 1st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.03%. This is a positive change from State Street's previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. State Street's dividend payout ratio is 34.04%.

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.