State Street Corporation (NYSE:STT) EVP Sells $108,197.10 in Stock

State Street Corporation (NYSE:STT - Get Free Report) EVP Michael L. Richards sold 990 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total value of $108,197.10. Following the sale, the executive vice president directly owned 41,332 shares of the company's stock, valued at $4,517,174.28. This represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

State Street Stock Performance

Shares of STT traded up $0.37 during mid-day trading on Thursday, hitting $111.02. 1,999,777 shares of the company's stock were exchanged, compared to its average volume of 2,142,326. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $111.61. The stock's 50-day simple moving average is $102.05 and its 200-day simple moving average is $95.48. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.17. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 earnings per share. On average, equities research analysts expect that State Street Corporation will post 9.68 EPS for the current year.

State Street Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Wednesday, October 1st will be given a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This is a boost from State Street's previous quarterly dividend of $0.76. This represents a $3.36 annualized dividend and a dividend yield of 3.03%. State Street's payout ratio is presently 34.04%.

Analysts Set New Price Targets

STT has been the topic of several research analyst reports. Citigroup increased their price objective on shares of State Street from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered their price target on shares of State Street from $118.00 to $113.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Evercore ISI raised their price objective on shares of State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Morgan Stanley raised their price objective on shares of State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group upped their target price on State Street from $98.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, State Street has an average rating of "Hold" and an average price target of $112.00.

Institutional Trading of State Street

A number of institutional investors and hedge funds have recently made changes to their positions in the company. First Pacific Financial bought a new position in State Street in the first quarter valued at about $25,000. Capital Analysts LLC boosted its stake in shares of State Street by 3,914.3% in the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager's stock valued at $25,000 after purchasing an additional 274 shares in the last quarter. Larson Financial Group LLC boosted 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 purchasing an additional 118 shares in the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after purchasing an additional 412 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in State Street by 186.7% during the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock worth $43,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 87.44% of the company's stock.

About State Street

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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