State Street (NYSE:STT) EVP Michael Richards Sells 1,500 Shares

State Street Corporation (NYSE:STT) EVP Michael Richards sold 1,500 shares of the stock in a transaction that occurred 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 owned 41,827 shares of the company’s stock, valued at approximately $6,781,829.78. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

State Street Trading Up 0.7%

NYSE STT opened at $162.95 on Wednesday. State Street Corporation has a fifty-two week low of $95.67 and a fifty-two week high of $164.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a 50 day simple moving average of $148.51 and a two-hundred day simple moving average of $134.50. The stock has a market cap of $45.10 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share for the quarter, topping 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 business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the business posted $2.04 EPS. The business’s revenue was up 15.6% on a year-over-year basis. On average, analysts forecast that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be issued a $0.84 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $3.36 annualized dividend and a yield of 2.1%. State Street’s dividend payout ratio (DPR) is 34.08%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STT. Brighton Jones LLC bought a new position in State Street during the 4th quarter valued at approximately $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in State Street by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after buying an additional 918 shares in the last quarter. NewEdge Advisors LLC increased its position in State Street by 105.2% during the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after buying an additional 5,226 shares in the last quarter. Empowered Funds LLC increased its position in State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after buying an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP increased its position in State Street by 38.4% during the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after buying an additional 6,767 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STT. Argus increased their price objective on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. The Goldman Sachs Group increased 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, April 20th. Seaport Research Partners reissued a “buy” rating and issued a $170.00 target price on shares of State Street in a research report on Monday, April 20th. JPMorgan Chase & Co. increased their target price on State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada increased their target price on State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Monday, April 20th. Three 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.57.

State Street Company Profile

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.