Invenomic Capital Management LP Has $19.37 Million Stock Holdings in State Street Co. (NYSE:STT)

Invenomic Capital Management LP lessened its stake in State Street Co. (NYSE:STT - Free Report) by 28.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,385 shares of the asset manager's stock after selling 79,206 shares during the period. State Street accounts for 0.9% of Invenomic Capital Management LP's portfolio, making the stock its 27th biggest holding. Invenomic Capital Management LP owned about 0.07% of State Street worth $19,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Albion Financial Group UT purchased a new stake in State Street during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd lifted its stake in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in State Street during the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC lifted its stake in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after buying an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

Insider Buying and Selling

In related news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,820 shares of company stock worth $1,567,972 over the last three months. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STT has been the topic of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Citigroup lowered their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wolfe Research raised shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, State Street presently has an average rating of "Hold" and an average target price of $102.15.

State Street Price Performance

Shares of NYSE STT traded down $0.45 during midday trading on Wednesday, reaching $97.34. 252,069 shares of the company traded hands, compared to its average volume of 2,150,526. The firm has a market cap of $27.76 billion, a PE ratio of 11.80, a PEG ratio of 1.11 and a beta of 1.42. The stock's 50-day simple moving average is $86.58 and its 200-day simple moving average is $93.71. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same period in the previous year, the business posted $1.69 earnings per share. As a group, equities analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. State Street's payout ratio is 34.12%.

State Street 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.