State Street Corp (NYSE:STT) EVP George E. Sullivan sold 1,611 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $83.18, for a total transaction of $134,002.98. Following the sale, the executive vice president now directly owns 58,847 shares in the company, valued at approximately $4,894,893.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
STT stock opened at $84.96 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52. State Street Corp has a fifty-two week low of $82.43 and a fifty-two week high of $114.27. The company has a market cap of $30.73 billion, a P/E ratio of 14.26, a PEG ratio of 0.86 and a beta of 1.22.
State Street (NYSE:STT) last announced its quarterly earnings results on Friday, July 20th. The asset manager reported $1.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.13). The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.05 billion. State Street had a net margin of 19.56% and a return on equity of 14.98%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. analysts anticipate that State Street Corp will post 7.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.47 dividend. This is a positive change from State Street’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, September 28th. State Street’s dividend payout ratio is currently 28.19%.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday, May 28th. Deutsche Bank upgraded shares of State Street from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Monday, April 23rd. ValuEngine lowered shares of State Street from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Morgan Stanley cut their target price on shares of State Street from $117.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday, July 2nd. Finally, Sandler O’Neill restated a “hold” rating on shares of State Street in a research note on Friday, July 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $105.29.
A number of institutional investors have recently made changes to their positions in STT. Moneta Group Investment Advisors LLC increased its stake in State Street by 3,604.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 29,633 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 28,833 shares during the last quarter. Motco increased its stake in State Street by 246.8% in the first quarter. Motco now owns 1,068 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 760 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in State Street in the second quarter valued at approximately $109,000. Delta Asset Management LLC TN purchased a new position in State Street in the second quarter valued at approximately $142,000. Finally, Adviser Investments LLC purchased a new position in State Street in the first quarter valued at approximately $145,000. Institutional investors own 87.48% of the company’s stock.
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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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