Key Points
- COO Mostapha Tahiri sold 9,611 shares at an average price of $152.93 on April 22 for proceeds of about $1.47 million, trimming his stake roughly 12.9% to 64,642 shares (Form 4 filed with the SEC).
- State Street beat quarterly expectations, reporting $2.84 EPS vs. $2.64 expected and $3.80 billion revenue (up 15.6% year-over-year), and it pays a $0.84 quarterly dividend (2.2% yield).
- Analysts have raised targets and the consensus rating is a "Moderate Buy" with an average price target of $154, while shares sit near a 52‑week high and institutional ownership is about 87.4%.
State Street Corporation (NYSE:STT - Get Free Report) EVP Michael Richards sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the executive vice president owned 43,522 shares of the company's stock, valued at $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
State Street Stock Performance
Shares of NYSE:STT opened at $150.69 on Friday. The firm has a market capitalization 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 debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.61. The business has a 50-day moving average of $130.81 and a two-hundred day moving average of $126.15. State Street Corporation has a 12 month low of $85.68 and a 12 month high of $156.18.
State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping the consensus estimate of $2.64 by $0.20. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.04 earnings per share. As a group, research analysts forecast that State Street Corporation will post 12.23 earnings per share for the current year.
State Street Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were given a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. State Street's dividend payout ratio is presently 34.08%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on State Street from $157.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Morgan Stanley upped their target price on State Street from $155.00 to $166.00 and gave the stock an "overweight" rating in a research report on Monday. The Goldman Sachs Group upped their target price on State Street from $152.00 to $168.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America raised State Street from an "underperform" rating to a "neutral" rating and set a $143.00 target price for the company in a research report on Monday, April 6th. Finally, Citigroup assumed coverage on State Street in a research report on Monday, February 23rd. They issued a "buy" rating and a $150.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $154.00.
Get Our Latest Report on State Street
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of STT. Brighton Jones LLC purchased a new position in State Street in the fourth quarter valued at about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in State Street by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager's stock valued at $2,885,000 after purchasing an additional 918 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager's stock valued at $913,000 after purchasing an additional 5,226 shares during the last quarter. Empowered Funds LLC boosted its holdings in State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager's stock valued at $2,065,000 after purchasing an additional 15,996 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in State Street by 38.4% in the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager's stock valued at $2,182,000 after purchasing an additional 6,767 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company's stock.
More State Street News
Here are the key news stories impacting State Street this week:
- Positive Sentiment: State Street issued $800 million of fixed-to-floating rate senior notes to boost liquidity and funding flexibility — a constructive move for balance-sheet readiness and liquidity management. State Street Boosts Liquidity With New Senior Notes Offering
- Positive Sentiment: Zacks Research upgraded STT from "hold" to "strong-buy," which can attract buyer interest and supports sentiment following recent earnings strength. Zacks.com
- Positive Sentiment: Short interest dropped ~27.8% month-over-month to ~3.52M shares (≈1.3% of float), reducing short pressure and the potential for short-driven volatility. No external link
- Neutral Sentiment: State Street reported portfolio moves where it ceased to be a substantial holder in Elsight Ltd., a routine passive-tracking/subsidiary rebalancing item that is unlikely to affect STT’s core business. State Street Ceases to Be Substantial Holder in Elsight
- Neutral Sentiment: Similar filings show State Street ceased being a substantial holder in Select Harvests and in Collins Foods — portfolio/ownership disclosures that are standard for an asset manager. State Street Ceases to Be Substantial Holder in Select Harvests State Street Group Ceases to Be Substantial Holder in Collins Foods
- Negative Sentiment: Multiple insider sales were disclosed today — a common near-term headwind for sentiment as investors watch insider behavior. Top State Street Insiders Quietly Unload a Chunk of Their Shares
- Negative Sentiment: COO Mostapha Tahiri sold 9,611 shares at an average $152.93 (~$1.47M), cutting his stake ~12.9%; the Form 4 is available on the SEC site. COO Form 4
- Negative Sentiment: EVP Michael L. Richards sold 3,000 shares at an average $153.89 (~$462k), reducing his ownership by ~6.5%; details on the SEC filing. EVP Form 4
State Street Company Profile
(
Get Free Report)
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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