Ann Fogarty Sells 3,705 Shares of State Street Co. (NYSE:STT) Stock

State Street Co. (NYSE:STT) EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

State Street Stock Down 0.2 %

Shares of NYSE STT opened at $99.63 on Friday. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The company has a market capitalization of $28.74 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. 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 firm’s 50-day moving average is $98.58 and its two-hundred day moving average is $92.64.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.05%. State Street’s dividend payout ratio (DPR) is presently 36.89%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Truist Financial decreased their price objective on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.73.

Hedge Funds Weigh In On State Street

A number of institutional investors have recently modified their holdings of the company. Forum Financial Management LP raised its position in shares of State Street by 5.5% in the fourth quarter. Forum Financial Management LP now owns 4,483 shares of the asset manager’s stock valued at $440,000 after buying an additional 232 shares during the last quarter. Toronto Dominion Bank raised its position in shares of State Street by 4.4% in the fourth quarter. Toronto Dominion Bank now owns 162,126 shares of the asset manager’s stock valued at $15,912,000 after buying an additional 6,907 shares during the last quarter. Invst LLC raised its position in shares of State Street by 1.8% in the fourth quarter. Invst LLC now owns 11,582 shares of the asset manager’s stock valued at $1,137,000 after buying an additional 206 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of State Street in the fourth quarter valued at approximately $3,361,000. Finally, GTS Securities LLC raised its position in shares of State Street by 123.6% in the fourth quarter. GTS Securities LLC now owns 2,750 shares of the asset manager’s stock valued at $270,000 after buying an additional 14,381 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.