Kovitz Investment Group Partners LLC Sells 47,516 Shares of State Street Co. (NYSE:STT)

Kovitz Investment Group Partners LLC lowered its holdings in shares of State Street Co. (NYSE:STT - Free Report) by 90.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,158 shares of the asset manager's stock after selling 47,516 shares during the period. Kovitz Investment Group Partners LLC's holdings in State Street were worth $506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of STT. Norges Bank bought a new stake in shares of State Street in the 4th quarter valued at approximately $161,021,000. Price T Rowe Associates Inc. MD raised its stake in State Street by 236.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock worth $226,642,000 after acquiring an additional 1,622,408 shares in the last quarter. FMR LLC boosted its stake in shares of State Street by 14.2% in the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock valued at $685,441,000 after purchasing an additional 870,849 shares in the last quarter. Amundi grew its holdings in shares of State Street by 11.1% in the 4th quarter. Amundi now owns 5,602,547 shares of the asset manager's stock worth $547,636,000 after purchasing an additional 561,773 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in State Street during the 4th quarter valued at about $44,070,000. Institutional investors own 87.44% of the company's stock.

State Street Trading Up 1.6 %

NYSE:STT traded up $1.46 during trading hours on Wednesday, hitting $92.21. The stock had a trading volume of 293,247 shares, compared to its average volume of 2,146,316. The business's 50 day moving average is $86.53 and its 200-day moving average is $93.58. The company has a market cap of $26.61 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.11 and a beta of 1.42. State Street Co. has a one year low of $70.20 and a one year 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 issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the business posted $1.69 EPS. Sell-side analysts anticipate that State Street Co. will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street's dividend payout ratio (DPR) is presently 34.12%.

Analyst Ratings Changes

Several analysts have recently weighed in on STT shares. Wells Fargo & Company dropped their price objective on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods dropped their price target on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Barclays lowered their target price on State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Evercore ISI reduced their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $102.15.

Insider Transactions at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory L. Summe sold 10,815 shares of the company'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 directly owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

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.