Teacher Retirement System of Texas Sells 71,180 Shares of State Street Corporation $STT

Key Points

• Teacher Retirement System of Texas cut its stake by 52.4%, selling 71,180 shares of State Street and leaving it with 64,576 shares worth about $8.33 million.
• Multiple insiders have been selling recently — including COO Mostapha Tahiri's sale of 9,611 shares (~$1.47M) — with insiders disposing of a total of 28,711 shares (~$3.93M) in the last 90 days, which may weigh on sentiment.
• State Street beat earnings and revenue expectations (EPS $2.84 vs $2.64 expected; revenue $3.80B vs $3.59B), declared a $0.84 quarterly dividend (≈2.2% yield), and carries a consensus analyst price target of $154 (Moderate Buy).

Teacher Retirement System of Texas cut its stake in shares of State Street Corporation (NYSE:STT - Free Report) by 52.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,576 shares of the asset manager's stock after selling 71,180 shares during the quarter. Teacher Retirement System of Texas' holdings in State Street were worth $8,331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager's stock worth $29,000 after buying an additional 158 shares in the last quarter. JPL Wealth Management LLC bought a new stake in State Street in the 3rd quarter worth about $29,000. Flagship Wealth Advisors LLC bought a new stake in State Street in the 3rd quarter worth about $35,000. Measured Wealth Private Client Group LLC bought a new stake in State Street in the 3rd quarter worth about $35,000. Finally, SJS Investment Consulting Inc. increased its holdings in State Street by 2,142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 314 shares of the asset manager's stock worth $36,000 after buying an additional 300 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Insider Activity

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

State Street Trading Down 0.4%

Shares of NYSE:STT opened at $150.69 on Friday. 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. 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 stock's 50-day simple moving average is $130.81 and its two-hundred day simple moving average is $126.22. State Street Corporation has a 52-week low of $85.68 and a 52-week high of $156.18.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.59 billion. During the same period last year, the firm posted $2.04 earnings per share. The business's revenue for the quarter was up 15.6% on a year-over-year basis. Analysts expect that State Street Corporation will post 12.23 EPS for the current year.

State Street Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on STT shares. Barclays set a $165.00 price objective on State Street in a report on Monday, April 20th. Zacks Research upgraded State Street from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Seaport Research Partners reiterated a "buy" rating and issued a $170.00 price objective on shares of State Street in a report on Monday, April 20th. Wall Street Zen upgraded State Street from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. Finally, TD Cowen reiterated a "buy" rating on shares of State Street in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $154.00.

State Street News Summary

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

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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