State Street Corporation $STT Shares Sold by Impax Asset Management Group plc

Key Points

• Impax Asset Management Group plc reduced its stake in State Street by 8.7%, selling 11,167 shares and leaving it with 116,817 shares worth about $15.07 million at quarter-end.
• State Street beat quarterly estimates with EPS $2.84 vs $2.64 and revenue $3.80B vs $3.59B (revenue +15.6% YoY); analysts have raised targets and the consensus rating is a Moderate Buy with a $154 price target.
• Corporate insiders sold 28,711 shares (~$3.93M) over the last quarter (including COO Mostapha Tahiri's 9,611-share sale), while the company issued $800 million of fixed-to-floating senior notes to boost liquidity.

Impax Asset Management Group plc reduced its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,817 shares of the asset manager's stock after selling 11,167 shares during the period. Impax Asset Management Group plc's holdings in State Street were worth $15,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STT. True Wealth Design LLC lifted its position in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager's stock valued at $29,000 after purchasing an additional 158 shares during the period. JPL Wealth Management LLC acquired a new position in State Street during the third quarter valued at $29,000. Flagship Wealth Advisors LLC acquired a new position in State Street during the third quarter valued at $35,000. Measured Wealth Private Client Group LLC acquired a new position in State Street during the third quarter valued at $35,000. Finally, SJS Investment Consulting Inc. lifted its position in State Street by 2,142.9% during the third quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager's stock valued at $36,000 after purchasing an additional 300 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Loop Capital set a $144.00 target price on shares of State Street in a research report on Tuesday, January 6th. Barclays set a $165.00 target price on shares of State Street in a research report on Monday, April 20th. Keefe, Bruyette & Woods boosted their target price on shares of State Street from $157.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Citigroup assumed coverage on shares of State Street in a research report on Monday, February 23rd. They set a "buy" rating and a $150.00 target price for the company. Finally, Royal Bank Of Canada boosted their target price on shares of State Street from $135.00 to $155.00 and gave the company a "sector perform" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $154.00.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street issued $800 million of fixed-to-floating rate senior notes to boost liquidity and funding flexibility — a constructive move for balance-sheet readiness and liquidity management. State Street Boosts Liquidity With New Senior Notes Offering
• Positive Sentiment: Zacks Research upgraded STT from "hold" to "strong-buy," which can attract buyer interest and supports sentiment following recent earnings strength. Zacks.com
• Positive Sentiment: Short interest dropped ~27.8% month-over-month to ~3.52M shares (≈1.3% of float), reducing short pressure and the potential for short-driven volatility. No external link
• Neutral Sentiment: State Street reported portfolio moves where it ceased to be a substantial holder in Elsight Ltd., a routine passive-tracking/subsidiary rebalancing item that is unlikely to affect STT’s core business. State Street Ceases to Be Substantial Holder in Elsight
• Neutral Sentiment: Similar filings show State Street ceased being a substantial holder in Select Harvests and in Collins Foods — portfolio/ownership disclosures that are standard for an asset manager. State Street Ceases to Be Substantial Holder in Select Harvests State Street Group Ceases to Be Substantial Holder in Collins Foods
• Negative Sentiment: Multiple insider sales were disclosed today — a common near-term headwind for sentiment as investors watch insider behavior. Top State Street Insiders Quietly Unload a Chunk of Their Shares
• Negative Sentiment: COO Mostapha Tahiri sold 9,611 shares at an average $152.93 (~$1.47M), cutting his stake ~12.9%; the Form 4 is available on the SEC site. COO Form 4
• Negative Sentiment: EVP Michael L. Richards sold 3,000 shares at an average $153.89 (~$462k), reducing his ownership by ~6.5%; details on the SEC filing. EVP Form 4

State Street Stock Down 0.4%

STT opened at $150.69 on Friday. State Street Corporation has a fifty-two week low of $85.68 and a fifty-two week high of $156.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.57. The company has a fifty day moving average of $130.81 and a two-hundred day moving average of $126.22. The stock has a market capitalization of $41.75 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.84 and a beta of 1.37.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $0.20. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.59 billion. During the same quarter in the previous year, the company earned $2.04 earnings per share. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. On average, research analysts expect that State Street Corporation will post 12.23 earnings per share for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st were issued a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. State Street's payout ratio is presently 34.08%.

Insider Buying and Selling at State Street

In other State Street news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the transaction, the chief operating officer owned 64,642 shares of the company's stock, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Plansky sold 16,100 shares of State Street stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the completion of the transaction, the executive vice president directly owned 56,162 shares of the company's stock, valued at $6,982,059.84. The trade was a 22.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 28,711 shares of company stock valued at $3,933,032. Corporate insiders own 0.29% of the company's stock.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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