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 trading plan, and Hu’s stake fell by 13.4%.
- The company recently reported stronger-than-expected quarterly results, posting EPS of $2.84 versus the $2.64 consensus and revenue of $3.80 billion, up 15.6% year over year. Analysts currently expect State Street to earn 12.35 per share for the full fiscal year.
- State Street also declared 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 the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.35, for a total value 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. This trade represents a 13.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
State Street Price Performance
NYSE STT opened at $157.87 on Friday. State Street Corporation has a fifty-two week low of $94.72 and a fifty-two 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 stock's 50-day moving average is $142.61 and its two-hundred day moving average is $132.06. The firm has a market cap of $43.69 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45.
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, beating the consensus estimate of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company posted $2.04 earnings per share. The company's revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current fiscal year.
State Street Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, July 1st. State Street's dividend payout ratio (DPR) is currently 34.08%.
More State Street News
Here are the key news stories impacting State Street this week:
- Positive Sentiment: State Street Investment Management announced a change to its ETF lineup, including plans to close and liquidate the State Street DoubleLine Emerging Markets Fixed Income ETF (EMTL). The move suggests active portfolio management and a willingness to prune underperforming or non-core products, which can be viewed favorably by investors focused on capital efficiency. Article Title
- Neutral Sentiment: State Street also presented at the Bernstein 42nd Annual Strategic Decisions Conference. Conference appearances typically do not move the stock on their own, but they can help reinforce the company’s strategy and outlook for institutional investors. Article Title
- Neutral Sentiment: Several State Street entities ceased to be substantial holders in a handful of Australian companies, including Select Harvests, SRG Global, Elsight, and McMillan Shakespeare. These filings reflect changes in portfolio ownership, but they are not directly material to State Street’s own earnings power. Article Title
- Negative Sentiment: CEO Ronald P. Hanley and EVP W. Bradford Hu both sold shares in pre-arranged Rule 10b5-1 transactions. While the sales were scheduled and disclosed, insider selling can still weigh on investor sentiment if viewed as a signal that management is trimming exposure near recent highs. Article Title
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its position in shares of State Street by 1.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager's stock valued at $675,000 after buying an additional 83 shares in the last quarter. Wedmont Private Capital increased its position in shares of State Street by 1.3% in the 4th quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager's stock valued at $861,000 after buying an additional 85 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of State Street by 38.2% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager's stock valued at $39,000 after buying an additional 94 shares in the last quarter. Arjuna Capital increased its position in shares of State Street by 0.4% in the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager's stock valued at $3,243,000 after buying an additional 95 shares in the last quarter. Finally, LVW Advisors LLC increased its position in shares of State Street by 1.7% in the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager's stock valued at $723,000 after buying an additional 96 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
STT has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of State Street from $157.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Morgan Stanley lifted 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, April 20th. Wells Fargo & Company lifted their price objective on State Street from $162.00 to $171.00 and gave the company an "overweight" rating in a report on Tuesday. Citigroup boosted their target price on State Street from $150.00 to $172.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Zacks Research raised State Street from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, State Street currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.57.
Get Our Latest Analysis on State Street
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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