Mitsubishi UFJ Trust & Banking Corp Acquires 100,001 Shares of State Street Co. (NYSE:STT)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in State Street Co. (NYSE:STT - Free Report) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,278 shares of the asset manager's stock after purchasing an additional 100,001 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of State Street worth $34,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of STT. Albion Financial Group UT bought a new stake in State Street during the fourth quarter worth about $25,000. Y.D. More Investments Ltd raised its stake in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of State Street in the 4th quarter worth approximately $42,000. Friedenthal Financial purchased a new stake in shares of State Street in the 4th quarter valued at $49,000. Finally, Hager Investment Management Services LLC bought a new position in shares of State Street during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial lowered their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Citigroup dropped their price objective on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Wells Fargo & Company lowered their price target on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $101.53.

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State Street Stock Down 3.1 %

Shares of STT stock traded down $2.83 during midday trading on Friday, reaching $88.95. 1,425,000 shares of the stock were exchanged, compared to its average volume of 2,168,959. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The firm has a market cap of $25.66 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The company's 50 day moving average is $95.35 and its two-hundred 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 (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 earnings per share. On average, equities research analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

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

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value 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. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm's stock in a transaction on 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 owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.