Mitsubishi UFJ Asset Management Co. Ltd. Has $24.46 Million Holdings in State Street Co. (NYSE:STT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in State Street Co. (NYSE:STT) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,400 shares of the asset manager’s stock after purchasing an additional 12,383 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of State Street worth $24,458,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in shares of State Street by 0.3% in the 3rd quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager’s stock valued at $698,663,000 after acquiring an additional 29,190 shares during the last quarter. Northern Trust Corp increased its stake in State Street by 4.1% in the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager’s stock valued at $309,677,000 after purchasing an additional 180,093 shares in the last quarter. LSV Asset Management raised its holdings in State Street by 0.7% in the fourth quarter. LSV Asset Management now owns 3,658,731 shares of the asset manager’s stock worth $283,405,000 after purchasing an additional 23,756 shares during the period. Metropolis Capital Ltd boosted its position in shares of State Street by 18.4% during the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after purchasing an additional 537,431 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of State Street by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock valued at $201,243,000 after buying an additional 79,746 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $77.63 on Friday. The stock’s 50-day simple moving average is $74.81 and its 200 day simple moving average is $73.72. State Street Co. has a 52-week low of $62.78 and a 52-week high of $79.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $23.39 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.33 and a beta of 1.51.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. As a group, sell-side analysts forecast that State Street Co. will post 7.95 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Monday, July 1st. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Analyst Ratings Changes

STT has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group boosted their price objective on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Evercore ISI raised their target price on shares of State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods reduced their price target on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Finally, Argus raised their price objective on shares of State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.04.

Insider Transactions at State Street

In related news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street 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.