Mitsubishi UFJ Trust & Banking Corp Buys 18,726 Shares of State Street Corporation $STT

Mitsubishi UFJ Trust & Banking Corp increased its position in State Street Corporation (NYSE:STT) by 6.2% during the third quarter, HoldingsChannel.com reports. The firm owned 322,890 shares of the asset manager’s stock after acquiring an additional 18,726 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in State Street were worth $37,458,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STT. Norges Bank bought a new stake in State Street during the 2nd quarter valued at about $256,367,000. First Trust Advisors LP grew its holdings in shares of State Street by 39.0% during the second quarter. First Trust Advisors LP now owns 2,009,190 shares of the asset manager’s stock valued at $213,657,000 after buying an additional 564,202 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of State Street during the second quarter valued at approximately $42,281,000. Invesco Ltd. raised its holdings in State Street by 4.7% in the 2nd quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock worth $910,934,000 after acquiring an additional 381,547 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in State Street by 7.8% in the 3rd quarter. Nordea Investment Management AB now owns 2,451,703 shares of the asset manager’s stock valued at $283,343,000 after acquiring an additional 178,136 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Trading Down 1.8%

Shares of NYSE:STT opened at $126.10 on Monday. The stock’s 50-day simple moving average is $126.05 and its two-hundred day simple moving average is $117.86. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.11 and a beta of 1.43. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61.

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

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a $0.84 dividend. The ex-dividend date was Friday, January 2nd. This represents a $3.36 annualized dividend and a yield of 2.7%. State Street’s dividend payout ratio (DPR) is presently 35.71%.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. Citigroup raised their price target on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Finally, Evercore ISI lifted their price target on shares of State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.83.

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.