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 Stock Up 0.2%
STT stock traded up $0.17 during midday trading on Thursday, hitting $97.02. The stock had a trading volume of 1,389,717 shares, compared to its average volume of 2,137,715. State Street Co. has a 52-week low of $70.20 and a 52-week high of $103.00. The firm has a market cap of $27.67 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The business has a 50-day moving average of $88.71 and a two-hundred day moving average of $93.98. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.
State Street (NYSE:STT - Get Free Report) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.30 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. As a group, equities research analysts forecast that State Street Co. will post 9.68 earnings per share for the current fiscal year.
State Street Announces Dividend
The company also recently declared 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 of this dividend is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.13%. State Street's payout ratio is 34.12%.
Insider Transactions at State Street
In related news, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 7,354 shares in the company, 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. Corporate insiders own 0.29% of the company's stock.
Hedge Funds Weigh In On State Street
Several institutional investors and hedge funds have recently added to or reduced their stakes in STT. Adero Partners LLC grew its stake in shares of State Street by 3.6% during the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock worth $285,000 after acquiring an additional 100 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in State Street by 2.0% in the first quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager's stock valued at $515,000 after acquiring an additional 114 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in State Street by 2.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock valued at $395,000 after acquiring an additional 118 shares during the period. Larson Financial Group LLC raised its stake in shares of State Street by 40.8% during the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after buying an additional 118 shares during the period. Finally, Jacobi Capital Management LLC raised its stake in shares of State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 87.44% of the company's stock.
Wall Street Analyst Weigh In
STT has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on State Street from $118.00 to $113.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group set a $98.00 target price on State Street and gave the company a "buy" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price target on State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Bank of America increased their price target on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Finally, Evercore ISI reduced their target price on State Street from $109.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. One investment 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, State Street has an average rating of "Hold" and a consensus target price of $104.23.
Check Out Our Latest Report on State Street
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.
About State Street
(
Get Free Report)
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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