Elo Mutual Pension Insurance Co Increases Position in State Street Co. (NYSE:STT)

Elo Mutual Pension Insurance Co increased its stake in shares of State Street Co. (NYSE:STT) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,178 shares of the asset manager’s stock after buying an additional 4,561 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in State Street were worth $3,060,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock valued at $44,725,000 after purchasing an additional 14,476 shares during the period. Trust Investment Advisors purchased a new position in State Street in the 4th quarter valued at $234,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in State Street by 40.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 350,278 shares of the asset manager’s stock valued at $34,380,000 after buying an additional 100,001 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in State Street by 11.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,395 shares of the asset manager’s stock valued at $1,118,000 after buying an additional 1,173 shares during the period. Finally, GQG Partners LLC purchased a new position in State Street during the 4th quarter worth $6,697,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Trading Down 3.1 %

Shares of STT opened at $88.95 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The firm has a 50 day simple moving average of $95.35 and a 200-day simple moving average of $94.40.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the business posted $2.04 earnings per share. State Street’s revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.42%. State Street’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analysts Forecast Growth

STT has been the topic of several analyst reports. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Citigroup reduced their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, State Street has a consensus rating of “Hold” and an average target price of $101.53.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’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 in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

State Street Company 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.