Allianz SE Makes New Investment in State Street Co. (NYSE:STT)

Allianz SE acquired a new stake in State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 18,073 shares of the asset manager’s stock, valued at approximately $1,776,000.

A number of other large investors have also bought and sold shares of the business. Albion Financial Group UT acquired a new position in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd raised its position in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in State Street in the 4th quarter valued at approximately $42,000. Loomis Sayles & Co. L P boosted its position in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after acquiring an additional 311 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of State Street during the 4th quarter worth approximately $49,000. 87.44% of the stock is owned by institutional investors.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Morgan Stanley reduced their price target on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Citigroup lowered their price target on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus price target of $101.53.

State Street Price Performance

State Street stock opened at $88.95 on Friday. The company has a market capitalization of $25.66 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.11 and a beta of 1.44. The stock’s 50 day moving average is $95.35 and its 200-day moving average is $94.48. 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 Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm earned $2.04 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.42%. State Street’s payout ratio is presently 36.89%.

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.