Meiji Yasuda Asset Management Co Ltd. Has $1.12 Million Stock Holdings in State Street Co. (NYSE:STT)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in State Street Co. (NYSE:STT) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,395 shares of the asset manager’s stock after buying an additional 1,173 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in State Street were worth $1,118,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STT. Albion Financial Group UT bought a new position in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd increased its holdings in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street during the fourth quarter valued at about $42,000. Friedenthal Financial acquired a new stake in State Street during the fourth quarter worth about $49,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of State Street in the fourth quarter valued at $56,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Performance

STT stock opened at $92.64 on Thursday. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market cap of $26.72 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. The business’s fifty day moving average is $95.70 and its 200-day moving average is $94.38.

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

State Street Announces Dividend

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 paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is presently 36.89%.

Analysts Set New Price Targets

Several analysts have weighed in on STT shares. Wells Fargo & Company upped their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Citigroup reduced their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and raised their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.87.

Insiders Place Their Bets

In related news, 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 transaction 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. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

About State Street

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.