Hanley Ronald O Sells 14,553 Shares of State Street (NYSE:STT) Stock

Key Points

• State Street CEO Hanley Ronald O sold 14,553 shares on May 26 at an average price of $155.35, totaling about $2.26 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his direct ownership fell by 5.39%.
• State Street recently reported strong quarterly earnings, posting $2.84 EPS versus the $2.64 consensus estimate and revenue of $3.80 billion, also above expectations. Revenue rose 15.6% year over year, and analysts now expect full-year EPS of 12.35.
• The company announced a quarterly dividend of $0.84 per share, payable July 13, for an annualized yield of 2.1%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and a price target of $158.57.

State Street Corporation (NYSE:STT - Get Free Report) CEO Hanley Ronald O sold 14,553 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $2,260,808.55. Following the completion of the transaction, the chief executive officer directly owned 255,512 shares in the company, valued at $39,693,789.20. This trade represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

State Street Price Performance

STT traded down $0.05 during trading on Thursday, reaching $157.87. The company's stock had a trading volume of 2,071,382 shares, compared to its average volume of 2,124,690. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $141.88 and a two-hundred day simple moving average of $131.78. State Street Corporation has a 1 year low of $94.72 and a 1 year high of $159.31. The company has a market cap of $43.69 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.87 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping 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 business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company posted $2.04 EPS. The business's revenue was up 15.6% on a year-over-year basis. As a group, analysts anticipate that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street's payout ratio is 34.08%.

Institutional Investors Weigh In On State Street

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its holdings in shares of State Street by 1.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager's stock valued at $675,000 after buying an additional 83 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager's stock valued at $861,000 after buying an additional 85 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager's stock valued at $39,000 after buying an additional 94 shares during the last quarter. Arjuna Capital raised its holdings in shares of State Street by 0.4% in the fourth quarter. Arjuna Capital now owns 25,139 shares of the asset manager's stock valued at $3,243,000 after buying an additional 95 shares during the last quarter. Finally, LVW Advisors LLC raised its holdings in shares of State Street by 1.7% in the fourth quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager's stock valued at $723,000 after buying an additional 96 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on STT shares. Barclays set a $165.00 price objective on shares of State Street in a research report on Monday, April 20th. Zacks Research raised shares of State Street from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Morgan Stanley lifted their price objective on shares of State Street from $155.00 to $166.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. The Goldman Sachs Group boosted their price target on shares of State Street from $152.00 to $168.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Finally, Bank of America raised shares of State Street from an "underperform" rating to a "neutral" rating and set a $143.00 price target for the company in a research report on Monday, April 6th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.

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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