Mitsubishi UFJ Trust & Banking Corp Sells 179,875 Shares of State Street Corporation $STT

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its position in State Street by 55.7%, selling 179,875 shares in Q4 and now holding 143,015 shares (about 0.05% of the company) valued at roughly $18.45 million.
• State Street topped quarterly estimates with EPS of $2.84 vs. $2.64 and revenue of $3.80 billion (up 15.6% year‑over‑year), and analysts have raised targets with a consensus rating of Moderate Buy and an average price target of $154.
• The company pays a quarterly dividend of $0.84 (annualized $3.36, ~2.2% yield), while insiders have been trimming positions recently — including the COO's sale of 9,611 shares — totaling 28,711 insider shares sold in the past 90 days.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of State Street Corporation (NYSE:STT - Free Report) by 55.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,015 shares of the asset manager's stock after selling 179,875 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of State Street worth $18,450,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of STT. Regents of The University of California purchased a new stake in shares of State Street during the 3rd quarter valued at $324,576,000. Two Sigma Investments LP grew its stake in shares of State Street by 261.0% during the third quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager's stock worth $141,277,000 after acquiring an additional 880,507 shares during the last quarter. First Trust Advisors LP increased its stake in State Street by 36.8% during the 3rd quarter. First Trust Advisors LP now owns 2,747,646 shares of the asset manager's stock valued at $318,754,000 after purchasing an additional 738,456 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of State Street in the 3rd quarter valued at $62,092,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of State Street by 157.5% in the third quarter. Qube Research & Technologies Ltd now owns 863,666 shares of the asset manager's stock valued at $100,194,000 after purchasing an additional 528,246 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price target on State Street from $157.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Truist Financial boosted their price target on shares of State Street from $136.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, April 20th. Seaport Research Partners reaffirmed a "buy" rating and issued a $170.00 target price on shares of State Street in a research note on Monday, April 20th. Wall Street Zen upgraded shares of State Street from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. Finally, Citigroup started coverage on shares of State Street in a research report on Monday, February 23rd. They issued a "buy" rating and a $150.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, State Street presently has an average rating of "Moderate Buy" and an average target price of $154.00.

State Street Stock Up 1.3%

STT stock opened at $152.71 on Friday. The stock has a market cap of $42.31 billion, a P/E ratio of 15.49, a PEG ratio of 0.83 and a beta of 1.37. The company has a current ratio of 0.57, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. State Street Corporation has a twelve month low of $87.22 and a twelve month high of $156.18. The company's 50 day moving average is $132.73 and its two-hundred day moving average is $127.18.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping the consensus estimate of $2.64 by $0.20. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. State Street's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $2.04 EPS. Research analysts expect that State Street Corporation will post 12.31 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. State Street's dividend payout ratio (DPR) is 34.08%.

Insider Transactions at State Street

In other news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the transaction, the chief operating officer directly owned 64,642 shares of the company's stock, valued at $9,885,701.06. The trade was a 12.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael L. Richards sold 3,000 shares of the company's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the executive vice president owned 43,522 shares of the company's stock, valued at approximately $6,697,600.58. This trade represents a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 28,711 shares of company stock worth $3,933,032. Insiders own 0.27% of the company's stock.

About State Street

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.

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