UniSuper Management Pty Ltd Sells 4,355 Shares of State Street Co. (NYSE:STT)

UniSuper Management Pty Ltd decreased its position in shares of State Street Co. (NYSE:STT) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,488 shares of the asset manager’s stock after selling 4,355 shares during the period. UniSuper Management Pty Ltd’s holdings in State Street were worth $2,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in STT. Elo Mutual Pension Insurance Co lifted its stake in shares of State Street by 17.1% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 31,178 shares of the asset manager’s stock worth $3,060,000 after acquiring an additional 4,561 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 worth $44,725,000 after purchasing an additional 14,476 shares during the period. Trust Investment Advisors bought a new stake in shares of State Street during the fourth quarter worth $234,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of State Street by 40.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 350,278 shares of the asset manager’s stock valued at $34,380,000 after purchasing an additional 100,001 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of State Street by 11.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,395 shares of the asset manager’s stock worth $1,118,000 after purchasing an additional 1,173 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the firm’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 owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

State Street Price Performance

Shares of STT opened at $88.95 on Friday. The company has a 50 day moving average of $95.35 and a two-hundred day moving average of $94.48. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company 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.

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

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on STT shares. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Truist Financial lowered their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Citigroup cut their price target on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, State Street has an average rating of “Hold” and a consensus price target of $101.53.

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.