MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Invests $1.18 Million in State Street Co. (NYSE:STT)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of State Street Co. (NYSE:STT) in the 1st quarter, HoldingsChannel reports. The fund bought 15,229 shares of the asset manager’s stock, valued at approximately $1,178,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Symmetry Partners LLC increased its stake in State Street by 3.5% in the 1st quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock valued at $294,000 after buying an additional 130 shares during the last quarter. Tompkins Financial Corp increased its stake in State Street by 28.3% in the 1st quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock valued at $53,000 after buying an additional 150 shares during the last quarter. CWM LLC increased its stake in 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 buying an additional 165 shares during the last quarter. Syon Capital LLC increased its stake in 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 buying an additional 168 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in 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 buying an additional 170 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada restated a “sector perform” rating and set a $85.00 price target on shares of State Street in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Argus raised their price target on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, UBS Group raised their price target on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $83.88.

State Street Stock Up 0.4 %

Shares of NYSE:STT opened at $73.87 on Wednesday. The firm has a fifty day moving average price of $74.30 and a two-hundred day moving average price 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 one year low of $62.78 and a one year high of $79.90. The company has a market cap of $22.25 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.29 and a beta of 1.49.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. Analysts anticipate that State Street Co. will post 7.94 EPS for the current fiscal year.

State Street Dividend Announcement

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

About State Street

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.