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

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

State Street Trading Down 0.6 %

STT stock opened at $99.82 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The business’s 50-day moving average is $98.60 and its 200 day moving average is $92.59. The stock has a market cap of $28.80 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the company posted $2.04 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, sell-side 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 was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. State Street’s payout ratio is presently 36.89%.

Hedge Funds Weigh In On State Street

A number of institutional investors and hedge funds have recently bought and sold shares of STT. Flagship Harbor Advisors LLC acquired a new position in shares of State Street during the 4th quarter worth approximately $272,000. KBC Group NV boosted its stake in State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after buying an additional 12,707 shares during the last quarter. Merit Financial Group LLC acquired a new position in State Street during the fourth quarter worth $395,000. Janney Montgomery Scott LLC boosted its position in shares of State Street by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after acquiring an additional 7,446 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down from $104.00) on shares of State Street in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Company Profile

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.