Insider Selling: State Street Co. (NYSE:STT) CAO Sells 1,300 Shares of Stock

State Street Co. (NYSE:STT) CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,354 shares of the company’s stock, valued at approximately $667,154.88. This trade represents a 15.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

State Street Trading Down 0.3 %

Shares of STT opened at $93.81 on Friday. State Street Co. has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The company has a market capitalization of $26.75 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The stock has a fifty day moving average of $86.36 and a two-hundred day moving average of $93.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last released its earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same period in the prior year, the business posted $1.69 earnings per share. As a group, analysts forecast that State Street Co. will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a $0.76 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $3.04 annualized dividend and a dividend yield of 3.24%. State Street’s dividend payout ratio is presently 34.12%.

Hedge Funds Weigh In On State Street

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Albion Financial Group UT purchased a new stake in shares of State Street during the 4th quarter valued at $25,000. First Pacific Financial purchased a new stake in State Street during the first quarter valued at about $25,000. Y.D. More Investments Ltd increased its stake in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Larson Financial Group LLC raised its holdings 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 worth $36,000 after purchasing an additional 118 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of State Street in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group set a $98.00 price target on State Street and gave the stock a “buy” rating in a report on Thursday, April 17th. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Wells Fargo & Company dropped their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Bank of America upped their price target on shares of State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.15.

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.