State Street (NYSE:STT) COO Mostapha Tahiri Sells 9,611 Shares

Key Points

• COO Mostapha Tahiri sold 9,611 shares on April 22 at an average of $152.93 for about $1.47M, reducing his stake by 12.94% to 64,642 shares valued at roughly $9.89M.
• Strong quarterly results: State Street reported EPS of $2.84 vs. $2.64 expected and revenue of $3.80B vs. $3.59B expected, with revenue up 15.6% year‑over‑year.
• Dividend and valuation snapshot: The company pays a $0.84 quarterly dividend ($3.36 annually, ~2.2% yield), has a $41.75B market cap and a P/E of 15.28, and carries an average analyst rating of "Moderate Buy" with a $154 target.

State Street Corporation (NYSE:STT - Get Free Report) COO Mostapha Tahiri sold 9,611 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer owned 64,642 shares of the company's stock, valued at approximately $9,885,701.06. The trade was a 12.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

State Street Trading Down 0.4%

Shares of STT traded down $0.56 during mid-day trading on Friday, reaching $150.69. The company's stock had a trading volume of 1,440,479 shares, compared to its average volume of 2,203,197. The stock has a market cap of $41.75 billion, a PE ratio of 15.28, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a current ratio of 0.57, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. State Street Corporation has a 52 week low of $85.68 and a 52 week high of $156.18. The company's fifty day moving average price is $130.35 and its two-hundred day moving average price is $125.92.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business's quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 EPS. On average, analysts predict that State Street Corporation will post 12.23 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street's dividend payout ratio is currently 34.08%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Regents of The University of California bought a new position in State Street in the 3rd quarter worth $324,576,000. Jones Financial Companies Lllp raised its holdings in State Street by 11.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager's stock worth $24,139,000 after purchasing an additional 21,810 shares in the last quarter. Machina Capital S.A.S. bought a new position in State Street in the 3rd quarter worth $2,622,000. AE Wealth Management LLC bought a new position in State Street in the 3rd quarter worth $6,611,000. Finally, Impax Asset Management Group plc raised its holdings in State Street by 49.2% in the 3rd quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager's stock worth $14,847,000 after purchasing an additional 42,198 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on STT shares. TD Cowen reiterated a "buy" rating on shares of State Street in a report on Wednesday, January 7th. Evercore set a $158.00 price target on shares of State Street and gave the company an "outperform" rating in a report on Monday. Argus upped their price target on shares of State Street from $140.00 to $168.00 and gave the company a "buy" rating in a report on Tuesday. Loop Capital set a $144.00 price target on shares of State Street in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of State Street from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $154.00.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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