Insider Selling: State Street Co. (NYSE:STT) EVP Sells $368,536.35 in Stock

State Street Co. (NYSE:STT) EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

State Street Price Performance

Shares of NYSE STT opened at $98.74 on Friday. The firm has a market capitalization of $28.48 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $98.55 and its two-hundred day simple moving average is $92.79. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the prior year, the business earned $2.04 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Institutional Investors Weigh In On State Street

Several institutional investors have recently bought and sold shares of the stock. Adero Partners LLC grew its position in State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after acquiring an additional 100 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares during the last quarter. Jacobi Capital Management LLC grew its position in State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after acquiring an additional 121 shares during the last quarter. Moors & Cabot Inc. grew its position in State Street by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock worth $1,799,000 after acquiring an additional 131 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock worth $986,000 after acquiring an additional 138 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on STT shares. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Truist Financial cut their target price on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Wells Fargo & Company boosted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.