Rep. Jake Auchincloss Sells State Street Co. (NYSE:STT) Stock

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

State Street stock traded up $0.05 during trading on Wednesday, reaching $97.48. The company had a trading volume of 815,352 shares, compared to its average volume of 2,133,086. The firm has a market capitalization of $27.80 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm's 50-day simple moving average is $88.50 and its 200 day simple moving average is $93.95. 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.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion during 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 quarter last year, the company posted $1.69 EPS. As a group, equities research analysts anticipate that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.12%. State Street's dividend payout ratio (DPR) is 34.12%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STT shares. Wall Street Zen downgraded shares of State Street from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Barclays dropped their target price on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Truist Financial upgraded State Street from a "hold" rating to a "buy" rating and upped their price target for the stock from $85.00 to $112.00 in a report on Wednesday. Citigroup dropped their price objective on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Bank of America increased their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $104.23.

Insider Buying and Selling

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the transaction, the chief accounting officer now owns 7,354 shares of the company's stock, valued at $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On State Street

Several large investors have recently bought and sold shares of the stock. Albion Financial Group UT bought a new stake in State Street during the 4th quarter worth approximately $25,000. First Pacific Financial bought a new stake in shares of State Street in the first quarter worth $25,000. Capital Analysts LLC raised its position 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 in the last quarter. Y.D. More Investments Ltd increased its stake in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake 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 valued at $36,000 after acquiring an additional 118 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.