State Street Co. (NYSE:STT) Shares Acquired by Savant Capital LLC

Savant Capital LLC boosted its position in State Street Co. (NYSE:STT) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,172 shares of the asset manager’s stock after buying 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 SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in STT. CWM LLC increased its holdings in State Street by 12.3% in the third quarter. CWM LLC now owns 11,371 shares of the asset manager’s stock valued at $1,006,000 after buying an additional 1,248 shares in the last quarter. Carnegie Investment Counsel purchased a new stake in State Street during the 3rd quarter worth about $237,000. Exchange Traded Concepts LLC raised its position in shares of State Street by 2,137.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock valued at $144,000 after buying an additional 1,560 shares during the last quarter. Creative Planning lifted its stake in shares of State Street by 13.4% during the 3rd quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock worth $1,846,000 after purchasing an additional 2,470 shares during the period. Finally, Hummer Financial Advisory Services Inc acquired a new stake in State Street in the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STT. Truist Financial dropped their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Friday, December 20th. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has a consensus rating of “Hold” and an average price target of $100.73.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was 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 directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

State Street Trading Down 0.4 %

Shares of NYSE:STT opened at $98.23 on Thursday. The firm has a market capitalization of $28.80 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The firm has a fifty day moving average of $98.55 and a two-hundred day moving average of $92.01. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 EPS. On average, equities analysts expect that State Street Co. will post 9.6 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.09%. State Street’s dividend payout ratio is currently 36.89%.

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.