Savant Capital LLC Sells 610 Shares of State Street Co. (NYSE:STT)

Savant Capital LLC trimmed its holdings in shares of State Street Co. (NYSE:STT) by 15.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,399 shares of the asset manager’s stock after selling 610 shares during the period. Savant Capital LLC’s holdings in State Street were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of STT. Banque Cantonale Vaudoise raised its holdings in shares of State Street by 54.9% in the third quarter. Banque Cantonale Vaudoise now owns 10,839 shares of the asset manager’s stock valued at $726,000 after buying an additional 3,841 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of State Street in the fourth quarter worth about $45,687,000. Crestwood Advisors Group LLC lifted its position in shares of State Street by 11.0% during the third quarter. Crestwood Advisors Group LLC now owns 83,069 shares of the asset manager’s stock worth $5,562,000 after purchasing an additional 8,202 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of State Street by 3.7% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 484,411 shares of the asset manager’s stock worth $37,522,000 after purchasing an additional 17,270 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of State Street by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 270,342 shares of the asset manager’s stock valued at $20,941,000 after purchasing an additional 12,594 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE:STT opened at $75.11 on Tuesday. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.32 and a beta of 1.52. The firm’s 50 day simple moving average is $74.30 and its 200 day simple moving average is $73.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last posted its earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.21. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. As a group, sell-side analysts forecast that State Street Co. will post 7.96 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued 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 3.67%. State Street’s dividend payout ratio is presently 51.69%.

Analyst Ratings Changes

STT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Keefe, Bruyette & Woods cut their price target on State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Argus raised their price target on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a report on Monday, April 15th. Morgan Stanley boosted their price objective on State Street from $89.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, UBS Group raised their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, State Street has an average rating of “Hold” and an average target price of $84.04.

Insider Buying and Selling at State Street

In other news, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction dated 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 owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Eric W. Aboaf sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now owns 149,063 shares in the company, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,864 shares of company stock valued at $1,390,597. 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.