Mn Services Vermogensbeheer B.V. Sells 8,700 Shares of State Street Co. (NYSE:STT)

Mn Services Vermogensbeheer B.V. trimmed its holdings in State Street Co. (NYSE:STT) by 7.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,619 shares of the asset manager’s stock after selling 8,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in State Street were worth $9,993,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street in the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its position in 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 purchasing an additional 412 shares during the period. MV Capital Management Inc. increased its position in 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 purchasing an additional 251 shares during the period. Loomis Sayles & Co. L P increased its position in 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 purchasing an additional 311 shares during the period. Finally, Minot DeBlois Advisors LLC acquired a new stake in State Street in the fourth quarter worth about $49,000. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STT shares. Truist Financial upgraded State Street from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $112.00 in a research report on Wednesday, May 28th. Morgan Stanley set a $110.00 price objective on State Street and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Wall Street Zen lowered State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Bank of America lifted their price objective on State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $102.54.

State Street Price Performance

State Street stock opened at $97.37 on Tuesday. The firm has a market capitalization of $27.77 billion, a P/E ratio of 11.82, a PEG ratio of 1.11 and a beta of 1.44. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The business has a 50-day moving average of $91.66 and a 200-day moving average of $93.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the firm earned $1.69 EPS. On average, equities analysts anticipate that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. State Street’s dividend payout ratio is presently 34.12%.

Insider Activity at State Street

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

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.