Savant Capital LLC Acquires 310 Shares of State Street Co. (NYSE:STT)

Savant Capital LLC raised its position in shares of State Street Co. (NYSE:STT) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,172 shares of the asset manager’s stock after acquiring an additional 310 shares during the period. Savant Capital LLC’s holdings in State Street were worth $2,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the period. FMR LLC lifted its position in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of State Street by 818.1% in the 3rd quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after purchasing an additional 462,201 shares in the last quarter. National Bank of Canada FI grew its stake in shares of State Street by 99.4% during the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after acquiring an additional 442,725 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on STT shares. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Friday, December 20th. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Finally, Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and an average price target of $100.73.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $98.23 on Thursday. The business has a 50-day moving average of $98.55 and a 200 day moving average of $92.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the firm posted $2.04 EPS. State Street’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that State Street Co. will post 9.6 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.09%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 36.89%.

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.