Mufg Securities Americas Inc. Takes Position in State Street Co. (NYSE:STT)

Mufg Securities Americas Inc. purchased a new position in shares of State Street Co. (NYSE:STT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,857 shares of the asset manager’s stock, valued at approximately $477,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new stake in shares of State Street in the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd lifted its holdings in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the 4th quarter worth $42,000. Coppell Advisory Solutions LLC grew its stake in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after purchasing an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

Insider Activity

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the transaction, the chief accounting officer now owns 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 15,820 shares of company stock valued at $1,567,972 over the last quarter. Company insiders own 0.29% of the company’s stock.

State Street Price Performance

NYSE:STT opened at $98.15 on Friday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The firm has a market cap of $27.99 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The company’s 50-day moving average is $86.97 and its two-hundred day moving average is $93.77. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same quarter in the prior year, the firm posted $1.69 earnings per share. Research analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, July 1st. State Street’s dividend payout ratio (DPR) is 34.12%.

Analysts Set New Price Targets

Several research analysts have weighed in on STT shares. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods decreased their target price on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Truist Financial dropped their price target on State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Finally, Evercore ISI decreased their price objective on shares of State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.15.

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.