State Street (NYSE:STT) Sees Strong Trading Volume

State Street Co. (NYSE:STT - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 5,517,564 shares were traded during mid-day trading, an increase of 138% from the previous session's volume of 2,322,866 shares.The stock last traded at $74.32 and had previously closed at $74.39.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STT. UBS Group raised their target price on shares of State Street from $80.00 to $82.00 and gave the company a "neutral" rating in a report on Friday, April 12th. Morgan Stanley lifted their price target on shares of State Street from $89.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Bank of America reiterated an "underperform" rating and set a $81.00 price target on shares of State Street in a report on Thursday, January 4th. Evercore ISI lifted their price target on shares of State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, April 4th. Finally, Argus raised their target price on shares of State Street from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $84.04.

State Street Trading Down 0.1 %

The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm's 50 day simple moving average is $74.08 and its two-hundred day simple moving average is $72.67. The stock has a market cap of $22.43 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Thursday, March 28th. State Street's dividend payout ratio (DPR) is 51.69%.

Insider Buying and Selling

In related news, CFO Eric W. Aboaf sold 12,000 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now owns 149,063 shares of the company's stock, valued at $11,015,755.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the sale, the executive vice president now owns 23,328 shares in the company, valued at approximately $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares in the company, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On State Street

Several large investors have recently made changes to their positions in the company. Simplicity Wealth LLC bought a new stake in shares of State Street in the 1st quarter valued at approximately $549,000. Sage Mountain Advisors LLC bought a new stake in State Street during the first quarter worth approximately $202,000. Wesbanco Bank Inc. bought a new stake in State Street during the first quarter worth approximately $1,199,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of State Street by 2.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 180,969 shares of the asset manager's stock valued at $13,993,000 after acquiring an additional 5,017 shares during the period. Finally, Massachusetts Wealth Management raised its stake in shares of State Street by 3.2% in the first quarter. Massachusetts Wealth Management now owns 21,934 shares of the asset manager's stock valued at $1,696,000 after purchasing an additional 675 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

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.

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