State Street (NYSE:STT) EVP W. Bradford Hu Sells 9,212 Shares

Key Points

• State Street EVP W. Bradford Hu sold 9,212 shares on May 26 at an average price of $155.35, totaling about $1.43 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and his ownership fell by 13.4%.
• The company recently reported stronger-than-expected quarterly results, with EPS of $2.84 versus the $2.64 consensus and revenue of $3.80 billion versus $3.59 billion expected. Revenue rose 15.6% year over year.
• State Street also announced a quarterly dividend of $0.84 per share, payable July 13 to shareholders of record on July 1. That works out to an annualized dividend of $3.36 and a yield of about 2.1%.

State Street Corporation (NYSE:STT - Get Free Report) EVP W. Bradford Hu sold 9,212 shares of State Street stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total transaction of $1,431,084.20. Following the transaction, the executive vice president owned 59,552 shares in the company, valued at approximately $9,251,403.20. The trade was a 13.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

State Street Trading Down 0.0%

NYSE STT traded down $0.05 on Thursday, hitting $157.87. 2,071,382 shares of the stock were exchanged, compared to its average volume of 2,124,690. State Street Corporation has a 52-week low of $94.72 and a 52-week high of $159.31. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 0.87 and a beta of 1.45. The company's 50-day moving average price is $141.88 and its two-hundred day moving average price is $131.78.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.20. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company's quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 EPS. Research analysts predict that State Street Corporation will post 12.35 EPS for the current year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.1%. State Street's dividend payout ratio (DPR) is 34.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of State Street in the fourth quarter valued at approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in State Street by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager's stock worth $2,885,000 after acquiring an additional 918 shares during the period. NewEdge Advisors LLC increased its position in State Street by 105.2% during the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager's stock worth $913,000 after acquiring an additional 5,226 shares during the period. Empowered Funds LLC increased its position in State Street by 220.1% during the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager's stock worth $2,065,000 after acquiring an additional 15,996 shares during the period. Finally, Woodline Partners LP increased its position in State Street by 38.4% during the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager's stock worth $2,182,000 after acquiring an additional 6,767 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on STT shares. Zacks Research raised shares of State Street from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their price objective on shares of State Street from $135.00 to $155.00 and gave the company a "sector perform" rating in a research note on Monday, April 20th. Evercore set a $158.00 price objective on shares of State Street and gave the company an "outperform" rating in a research note on Monday, April 20th. Morgan Stanley lifted their price objective on shares of State Street from $155.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Finally, Bank of America raised shares of State Street from an "underperform" rating to a "neutral" rating and set a $143.00 price objective for the company in a research note on Monday, April 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, State Street has a consensus rating of "Moderate Buy" and an average price target of $158.57.

About State Street

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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