State Street Co. (NYSE:STT) Position Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in State Street Co. (NYSE:STT) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,924 shares of the asset manager’s stock after purchasing an additional 14,476 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of State Street worth $44,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STT. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after buying an additional 1,354,560 shares in the last quarter. FMR LLC grew its holdings in shares of State Street by 15.8% in the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock worth $540,796,000 after acquiring an additional 833,679 shares during the last quarter. Amundi raised its position in shares of State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after purchasing an additional 561,773 shares during the period. Wellington Management Group LLP lifted its holdings in shares of State Street by 818.1% during the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock valued at $45,889,000 after purchasing an additional 462,201 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of State Street in the 4th quarter valued at $44,070,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on STT shares. Citigroup cut their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial reduced 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 report on Tuesday, January 21st. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley reduced their target price on State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.53.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the 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 transaction, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction 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 sale, 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. Company insiders own 0.31% of the company’s stock.

State Street Stock Down 3.1 %

STT opened at $88.95 on Friday. The company has a market capitalization 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 has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The business has a 50-day moving average of $95.35 and a 200-day moving average of $94.48.

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

State Street Announces Dividend

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

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.