State Street Corporation $STT Stake Raised by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in State Street Corporation (NYSE:STT) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 313,843 shares of the asset manager’s stock after acquiring an additional 4,153 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in State Street were worth $36,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of State Street by 2,142.9% in the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. City Holding Co. acquired a new stake in shares of State Street during the 3rd quarter valued at $47,000. Root Financial Partners LLC bought a new stake in shares of State Street during the 3rd quarter worth $47,000. Finally, AlphaCore Capital LLC grew its holdings in shares of State Street by 103.5% in the 2nd quarter. AlphaCore Capital LLC now owns 468 shares of the asset manager’s stock worth $50,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares in the company, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

State Street Price Performance

Shares of STT opened at $126.92 on Thursday. The business’s 50-day moving average is $125.67 and its 200-day moving average is $117.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.59. The company has a market capitalization of $35.45 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.11 and a beta of 1.43. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. Equities research analysts expect that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, January 2nd. State Street’s payout ratio is currently 35.71%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Loop Capital set a $144.00 price objective on shares of State Street in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their target price on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Citigroup boosted their price target on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Profile

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.