State Street (NYSE:STT) Shares Unloaded Rep. Jake Auchincloss

Representative Jake Auchincloss (D-Massachusetts) recently sold shares of State Street Co. NYSE: STT. In a filing disclosed on May 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on May 16th.

State Street Price Performance

NYSE:STT traded up $1.25 during mid-day trading on Tuesday, hitting $97.35. 2,815,688 shares of the company's stock traded hands, compared to its average volume of 2,138,234. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm's 50 day simple moving average is $88.36 and its 200 day simple moving average is $93.93. The company has a market cap of $27.76 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period last year, the company earned $1.69 earnings per share. Sell-side analysts expect that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.12%. State Street's dividend payout ratio is presently 34.12%.

Institutional Trading of State Street

Several institutional investors have recently modified their holdings of the business. Albion Financial Group UT acquired a new stake in State Street in the fourth quarter worth $25,000. First Pacific Financial purchased a new position in State Street during the first quarter worth about $25,000. Capital Analysts LLC lifted its holdings in State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager's stock worth $25,000 after acquiring an additional 274 shares during the period. Y.D. More Investments Ltd boosted its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after purchasing an additional 118 shares during the period. Institutional investors own 87.44% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Bank of America raised their target price on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Truist Financial reduced their target price on shares of State Street from $89.00 to $85.00 and set a "hold" rating for the company in a report on Monday, April 21st. Wells Fargo & Company decreased their target price on shares of State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $102.15.

Insider Transactions at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer now owns 7,354 shares of the company's stock, valued at approximately $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

About Representative Auchincloss

Jake Auchincloss (Democratic Party) is a member of the U.S. House, representing Massachusetts' 4th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Auchincloss (Democratic Party) is running for re-election to the U.S. House to represent Massachusetts' 4th Congressional District. He declared candidacy for the 2026 election. Jake Auchincloss was born in Boston, Massachusetts. Auchincloss served in the United States Marine Corps from 2010 to 2015 and reached the rank of captain. He earned an undergraduate degree from Harvard College in 2010 and a graduate degree from the Massachusetts Institute of Technology in 2016. Auchincloss' career experience includes working as a product manager with a cybersecurity startup and as a senior manager for new products with Solaria Labs at Liberty Mutual Insurance.

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.