Insider Selling: State Street Co. (NYSE:STT) Director Sells 10,815 Shares of Stock

State Street Co. (NYSE:STT) Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

State Street Price Performance

Shares of STT stock opened at $99.82 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $28.80 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The firm’s 50-day moving average is $98.60 and its two-hundred day moving average is $92.59. State Street Co. has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.04 earnings per share. Analysts predict that State Street Co. will post 9.65 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is presently 36.89%.

Institutional Trading of State Street

Institutional investors and hedge funds have recently bought and sold shares of the stock. Albion Financial Group UT acquired a new stake in shares of State Street during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% during the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in State Street in the 4th quarter valued at approximately $42,000. Coppell Advisory Solutions LLC raised its position in State Street by 2,942.9% in the fourth 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 period. Finally, Coastline Trust Co acquired a new position in State Street during the third quarter worth $44,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and raised their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Truist Financial dropped their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, State Street presently has a consensus rating of “Hold” and an average price target of $100.73.

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.