MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Makes New Investment in State Street Co. (NYSE:STT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of State Street Co. (NYSE:STT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,229 shares of the asset manager’s stock, valued at approximately $1,178,000.

Several other large investors have also recently bought and sold shares of the company. Symmetry Partners LLC lifted its holdings in State Street by 3.5% during the 1st quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after buying an additional 130 shares in the last quarter. Tompkins Financial Corp lifted its holdings in State Street by 28.3% during the 1st quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock worth $53,000 after buying an additional 150 shares in the last quarter. CWM LLC lifted its stake in shares of State Street by 2.6% in the 1st quarter. CWM LLC now owns 6,435 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 165 shares during the period. Syon Capital LLC lifted its stake in shares of State Street by 3.7% in the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 168 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of State Street by 4.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,132 shares of the asset manager’s stock valued at $320,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on STT. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $85.00 price objective on shares of State Street in a research note on Monday. JPMorgan Chase & Co. raised their price objective on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Argus raised their price objective on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Evercore ISI raised their price objective on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Keefe, Bruyette & Woods dropped their price objective on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.88.

State Street Price Performance

Shares of NYSE STT opened at $73.87 on Wednesday. The stock has a market capitalization of $22.25 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.29 and a beta of 1.49. The business has a 50-day moving average of $74.30 and a 200-day moving average of $74.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.21. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. As a group, sell-side analysts predict that State Street Co. will post 7.94 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Monday, July 1st will be paid a $0.69 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.76 annualized dividend and a yield of 3.74%. State Street’s dividend payout ratio (DPR) is currently 51.69%.

State Street Company 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.