Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in State Street Co. (NYSE:STT)

Tokio Marine Asset Management Co. Ltd. raised its position in shares of State Street Co. (NYSE:STT) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,061 shares of the asset manager’s stock after purchasing an additional 288 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in State Street were worth $624,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd increased its holdings in shares of State Street by 327.0% in the third quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after buying an additional 1,015,022 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of State Street in the fourth quarter worth about $45,687,000. Private Management Group Inc. purchased a new position in shares of State Street in the third quarter worth about $36,022,000. Metropolis Capital Ltd increased its holdings in shares of State Street by 18.4% in the fourth quarter. Metropolis Capital Ltd now owns 3,462,044 shares of the asset manager’s stock worth $268,170,000 after buying an additional 537,431 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of State Street by 122.8% in the third quarter. AQR Capital Management LLC now owns 884,742 shares of the asset manager’s stock worth $59,242,000 after buying an additional 487,671 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

State Street stock opened at $73.39 on Friday. The stock’s 50 day simple moving average is $74.16 and its two-hundred day simple moving average is $72.79. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.30 and a beta of 1.52. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.76%. State Street’s payout ratio is 51.69%.

Insider Buying and Selling at State Street

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Anthony Bisegna sold 4,258 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the sale, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STT has been the topic of several analyst reports. Evercore ISI lifted their price objective on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada boosted their price target on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. boosted their price target on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Keefe, Bruyette & Woods reduced their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Finally, Bank of America restated an “underperform” rating and set a $81.00 price target on shares of State Street in a report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.04.

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.