Savant Capital LLC Has $614,000 Position in State Street Corporation $STT

Key Points

• Savant Capital LLC cut its State Street position by 82.5% in the fourth quarter, leaving it with 4,760 shares worth about $614,000.
• State Street reported strong quarterly results, with earnings of $2.84 per share beating estimates and revenue of $3.80 billion topping expectations; revenue rose 15.6% from a year earlier.
• The company also announced a quarterly dividend of $0.84 per share, and analysts currently rate the stock a Moderate Buy with an average target price of $158.57.

Savant Capital LLC lessened its position in State Street Corporation (NYSE:STT - Free Report) by 82.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Moors & Cabot Inc. increased its holdings in State Street by 5.5% in the 4th quarter. Moors & Cabot Inc. now owns 18,952 shares of the asset manager's stock worth $2,445,000 after purchasing an additional 994 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in State Street in the 4th quarter worth about $560,000. AlphaQuest LLC increased its holdings in State Street by 293.2% in the 4th quarter. AlphaQuest LLC now owns 19,441 shares of the asset manager's stock worth $2,508,000 after purchasing an additional 14,497 shares in the last quarter. Kestra Investment Management LLC increased its holdings in State Street by 13.9% in the 4th quarter. Kestra Investment Management LLC now owns 7,976 shares of the asset manager's stock worth $1,029,000 after purchasing an additional 973 shares in the last quarter. Finally, Themes Management Co LLC acquired a new position in State Street in the 4th quarter worth about $965,000. Institutional investors and hedge funds own 87.44% of the company's stock.

Insider Activity at State Street

In related news, CEO Hanley Ronald P. O sold 14,553 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the sale, the chief executive officer owned 255,512 shares in the company, valued at $39,693,789.20. This represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael L. Richards sold 3,000 shares of the company's stock in a transaction dated 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 owned 43,522 shares in the company, valued at approximately $6,697,600.58. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,476 shares of company stock worth $7,624,925 over the last quarter. 0.27% of the stock is owned by company insiders.

State Street Trading Down 1.0%

Shares of STT stock opened at $158.19 on Thursday. State Street Corporation has a 1-year low of $95.61 and a 1-year high of $161.79. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $145.54 and a 200-day moving average of $133.15. The stock has a market cap of $43.78 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.87 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the company earned $2.04 EPS. The firm's revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.1%. State Street's dividend payout ratio is presently 34.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STT. Citigroup upped their target price on State Street from $150.00 to $172.00 and gave the stock a "buy" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on State Street from $137.50 to $158.50 and gave the stock a "neutral" rating in a report on Monday, May 11th. Royal Bank Of Canada increased their price target on State Street from $135.00 to $155.00 and gave the company a "sector perform" rating in a research note on Monday, April 20th. Seaport Research Partners reissued a "buy" rating and issued a $170.00 price target on shares of State Street in a research note on Monday, April 20th. Finally, The Goldman Sachs Group increased their price target on State Street from $152.00 to $168.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $158.57.

State Street Profile

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.

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