State Street Co. (NYSE:STT) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lowered its position in State Street Co. (NYSE:STT - Free Report) by 42.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,387 shares of the asset manager's stock after selling 14,030 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in State Street were worth $1,903,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Albion Financial Group UT acquired a new position in shares of State Street during the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd raised its position 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 worth $36,000 after acquiring an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in State Street during the fourth quarter valued at $42,000. Loomis Sayles & Co. L P grew its position in shares of State Street by 187.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after purchasing an additional 311 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of State Street during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 87.44% of the company's stock.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the company'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 transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

STT has been the topic of a number of research reports. Barclays decreased their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company decreased their target price on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Citigroup dropped their price target on State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Evercore ISI decreased their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Morgan Stanley dropped their target price on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $102.15.

State Street Trading Up 0.1 %

Shares of STT stock traded up $0.07 during trading on Monday, hitting $87.45. 582,098 shares of the stock traded hands, compared to its average volume of 2,146,813. The firm has a market capitalization of $25.24 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The firm's fifty day moving average price is $87.81 and its 200-day moving average price is $93.70.

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

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, April 1st. State Street's dividend payout ratio is presently 34.12%.

State Street Company 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.