State Street Co. (NYSE:STT) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 457,924 shares of the asset manager's stock after buying an additional 14,476 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of State Street worth $44,725,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Trust Investment Advisors acquired a new position in shares of State Street during the 4th quarter valued at $234,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of State Street by 40.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 350,278 shares of the asset manager's stock worth $34,380,000 after purchasing an additional 100,001 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of State Street by 11.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,395 shares of the asset manager's stock worth $1,118,000 after purchasing an additional 1,173 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of State Street in the fourth quarter worth about $6,697,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of State Street in the fourth quarter valued at about $319,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the 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 completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company's stock.

Remove Ads

State Street Stock Performance

Shares of NYSE STT traded down $6.81 during trading on Thursday, reaching $82.78. The stock had a trading volume of 715,797 shares, compared to its average volume of 2,036,651. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $23.88 billion, a PE ratio of 10.05, a P/E/G ratio of 1.11 and a beta of 1.44. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The firm's 50 day moving average price is $94.85 and its two-hundred day moving average price is $94.62.

State Street (NYSE:STT - Get Free Report) last issued 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 net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the prior year, the company earned $2.04 earnings per share. The firm's revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.67%. State Street's payout ratio is currently 36.89%.

Analyst Upgrades and Downgrades

STT has been the subject of a number of analyst reports. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Wells Fargo & Company decreased their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Morgan Stanley lowered their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday. StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, State Street currently has an average rating of "Hold" and an average price target of $102.07.

State Street Company Profile

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.