Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in State Street Corporation $STT

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of State Street Corporation (NYSE:STT) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 567,710 shares of the asset manager’s stock after purchasing an additional 22,077 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of State Street worth $65,860,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STT. True Wealth Design LLC increased its stake in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after buying an additional 158 shares during the period. Flagship Wealth Advisors LLC purchased a new position in State Street in the 3rd quarter valued at about $35,000. SJS Investment Consulting Inc. grew its stake in shares of State Street by 2,142.9% during the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of State Street in the third quarter worth about $47,000. 87.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STT has been the subject of a number of analyst reports. Citigroup initiated coverage on State Street in a report on Monday, February 23rd. They issued a “buy” rating and a $150.00 price target for the company. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Loop Capital set a $144.00 price objective on shares of State Street in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.83.

State Street Price Performance

NYSE STT opened at $128.42 on Friday. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05. The stock has a market cap of $35.79 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43. The company has a 50-day moving average price of $130.19 and a two-hundred day moving average price of $121.18. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last announced its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.15. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 EPS. Analysts forecast that State Street Corporation will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio is currently 35.71%.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.