Achmea Investment Management B.V. Acquires 8,085 Shares of State Street Corporation $STT

Achmea Investment Management B.V. lifted its holdings in State Street Corporation (NYSE:STT) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,446 shares of the asset manager’s stock after purchasing an additional 8,085 shares during the period. Achmea Investment Management B.V. owned 0.09% of State Street worth $29,518,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its position in shares of State Street by 166.3% in 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 period. JPL Wealth Management LLC bought a new stake in shares of State Street during the 3rd quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new position in State Street in the 3rd quarter valued at $35,000. Measured Wealth Private Client Group LLC bought a new stake in State Street during the third quarter valued at about $35,000. Finally, SJS Investment Consulting Inc. boosted its holdings in State Street by 2,142.9% during the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 300 shares during the period. 87.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 16,100 shares of State Street stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the transaction, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. The trade was a 22.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. Truist Financial set a $136.00 target price on shares of State Street in a research report on Tuesday, January 20th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Citigroup started coverage on shares of State Street in a research report on Monday, February 23rd. They issued a “buy” rating and a $150.00 price target on the stock. Finally, Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Price Performance

Shares of NYSE STT opened at $121.56 on Wednesday. The business has a fifty day moving average price of $128.41 and a two-hundred day moving average price of $122.18. The stock has a market capitalization of $33.88 billion, a PE ratio of 12.92, a P/E/G ratio of 1.05 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. 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 released its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $2.60 EPS. State Street’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities analysts predict that State Street Corporation will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $3.36 annualized dividend and a yield of 2.8%. State Street’s dividend payout ratio (DPR) is 35.71%.

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.