30,665 Shares in State Street Corporation $STT Bought by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG bought a new stake in State Street Corporation (NYSE:STT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,665 shares of the asset manager’s stock, valued at approximately $5,201,000.

A number of other institutional investors have also bought and sold shares of STT. Bell Investment Advisors Inc bought a new position in shares of State Street in the second quarter valued at $28,000. Wilkerson Advisory Group LLC bought a new position in shares of State Street in the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in shares of State Street in the third quarter valued at approximately $29,000. Phillip James Consulting Co. purchased a new position in shares of State Street during the fourth quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of State Street by 153.6% during the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Up 2.3%

Shares of NYSE:STT opened at $187.22 on Friday. The firm has a market capitalization of $51.43 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. State Street Corporation has a 52-week low of $104.64 and a 52-week high of $195.18. The firm has a fifty day moving average of $180.11 and a 200 day moving average of $153.79.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 EPS. As a group, research analysts anticipate that State Street Corporation will post 13.75 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Thursday, October 1st will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.84. State Street’s dividend payout ratio is presently 29.63%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup upped their price target on State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Bank of America lifted their price objective on shares of State Street from $160.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Wells Fargo & Company upped their target price on shares of State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Truist Financial reiterated a “hold” rating and issued a $191.00 target price (up from $176.00) on shares of State Street in a report on Friday, July 17th. Finally, Morgan Stanley raised their price target on shares of State Street from $183.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.38.

Insiders Place Their Bets

In other news, CEO Hanley Ronald P. O sold 14,553 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the transaction, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 1,500 shares of State Street stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the completion of the transaction, the executive vice president owned 41,827 shares in the company, valued at approximately $6,781,829.78. This represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 49,576 shares of company stock valued at $8,415,875 over the last quarter. 0.27% of the stock is owned by corporate insiders.

State Street Company 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.