Universal Beteiligungs und Servicegesellschaft mbH Reduces Position in State Street Corporation $STT

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in State Street Corporation (NYSE:STT) by 13.3% during the second quarter, HoldingsChannel.com reports. The firm owned 309,690 shares of the asset manager’s stock after selling 47,315 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in State Street were worth $32,932,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. grew its stake in shares of State Street by 11.7% during the second quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after buying an additional 106 shares during the last quarter. McAdam LLC lifted its stake in shares of State Street by 1.7% during the 2nd quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after acquiring an additional 111 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in State Street by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager’s stock valued at $515,000 after acquiring an additional 114 shares during the period. Larson Financial Group LLC grew its position in State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 118 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in State Street by 5.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,257 shares of the asset manager’s stock valued at $201,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Trading Down 3.4%

NYSE STT opened at $112.88 on Tuesday. State Street Corporation has a one year low of $72.81 and a one year high of $122.69. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. The company has a market capitalization of $31.53 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company’s 50-day simple moving average is $115.12 and its two-hundred day simple moving average is $108.52.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. Equities analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the transaction, the executive vice president owned 38,626 shares in the company, valued at $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on STT shares. The Goldman Sachs Group lifted their target price on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Evercore ISI raised their price target on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Zacks Research raised shares of State Street from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Citigroup upped their target price on shares of State Street from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, Truist Financial reduced their target price on shares of State Street from $133.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $125.92.

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.