Savant Capital LLC Sells 22,379 Shares of State Street Corporation $STT

Savant Capital LLC lowered its position in State Street Corporation (NYSE:STT) by 82.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,760 shares of the asset manager’s stock after selling 22,379 shares during the period. Savant Capital LLC’s holdings in State Street were worth $614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new position in State Street in the third quarter worth approximately $29,000. Board of the Pension Protection Fund bought a new position in State Street in the fourth quarter worth approximately $39,000. Measured Wealth Private Client Group LLC bought a new position in State Street in the third quarter worth approximately $35,000. Ameriflex Group Inc. boosted its holdings in State Street by 102.5% in the third quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after acquiring an additional 161 shares in the last quarter. Finally, Stance Capital LLC bought a new position in State Street in the third quarter worth approximately $44,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $158.19 on Thursday. The company has a market cap of $43.78 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. State Street Corporation has a 52 week low of $95.61 and a 52 week high of $161.79. The business has a 50 day moving average price of $145.54 and a 200-day moving average price of $133.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.04 earnings per share. Equities analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street’s dividend payout ratio (DPR) is presently 34.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America upgraded State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price target on the stock in a report on Monday, April 6th. 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 report on Monday, April 20th. Morgan Stanley increased their price target on State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Argus increased their price objective on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada increased their price objective on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.57.

Insider Activity at State Street

In related news, EVP W. Bradford Hu sold 9,212 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the completion of the sale, the executive vice president directly owned 59,552 shares of the company’s stock, valued at approximately $9,251,403.20. This trade represents a 13.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the executive vice president directly owned 43,522 shares of the company’s stock, valued at $6,697,600.58. The trade was a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,476 shares of company stock valued at $7,624,925 in the last ninety days. 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.