State Street Corporation (NYSE:STT - Get Free Report) EVP Michael Richards sold 1,500 shares of State Street stock in a transaction on Monday, June 8th. The stock was sold at an average price of $162.14, for a total value of $243,210.00. Following the completion of the sale, the executive vice president directly owned 41,827 shares of the company's stock, valued at approximately $6,781,829.78. The trade was a 3.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
State Street Stock Up 0.7%
State Street stock opened at $162.95 on Wednesday. The firm has a market cap of $45.10 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 0.88 and a beta of 1.43. The stock has a fifty day simple moving average of $148.51 and a two-hundred day simple moving average of $134.50. State Street Corporation has a 12 month low of $95.67 and a 12 month high of $164.05. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04.
State Street (NYSE:STT - Get Free Report) last posted its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $0.20. The business 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 company's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 EPS. Equities analysts predict that State Street Corporation will post 12.35 EPS for the current fiscal year.
State Street Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.1%. State Street's dividend payout ratio is presently 34.08%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on STT. Wells Fargo & Company boosted their price objective on State Street from $162.00 to $171.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Morgan Stanley boosted their price objective on State Street from $155.00 to $166.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Evercore set a $158.00 price objective on State Street and gave the stock an "outperform" rating in a research note on Monday, April 20th. Seaport Research Partners reissued a "buy" rating and set a $170.00 price objective on shares of State Street in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price objective on State Street from $137.50 to $158.50 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, State Street presently has an average rating of "Moderate Buy" and a consensus price target of $158.57.
Read Our Latest Stock Analysis on State Street
Institutional Trading of State Street
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilkerson Advisory Group LLC purchased a new stake in shares of State Street during the 4th quarter valued at $29,000. Phillip James Consulting Co. purchased a new position in shares of State Street during the 4th quarter valued at about $30,000. JPL Wealth Management LLC purchased a new position in shares of State Street during the 3rd quarter valued at about $29,000. Whipplewood Advisors LLC purchased a new position in shares of State Street during the 1st quarter valued at about $34,000. Finally, Reflection Asset Management purchased a new position in shares of State Street during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 87.44% of the company's stock.
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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