Rep. Jake Auchincloss Sells Off Shares of State Street Co. (NYSE:STT)

Representative Jake Auchincloss (D-Massachusetts) recently sold shares of State Street Co. (NYSE:STT). In a filing disclosed on February 21st, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on February 18th.

State Street Price Performance

Shares of NYSE:STT opened at $98.56 on Tuesday. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a 50-day simple moving average of $98.50 and a 200-day simple moving average of $93.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts predict that State Street Co. will post 9.68 EPS for the current year.

State Street Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.76 per share. 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 dividend payout ratio (DPR) is currently 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a report on Friday, December 20th. Wells Fargo & Company raised their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Barclays boosted their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.73.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at approximately $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of State Street by 5.7% during the 4th quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock valued at $737,162,000 after buying an additional 406,396 shares during the period. Geode Capital Management LLC boosted its holdings in State Street by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock valued at $704,238,000 after acquiring an additional 24,617 shares during the last quarter. FMR LLC boosted its holdings in State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock valued at $685,441,000 after acquiring an additional 870,849 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in State Street by 30.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. Finally, Amundi increased its stake in State Street by 11.1% during the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock worth $547,636,000 after acquiring an additional 561,773 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

About Representative Auchincloss

Jake Auchincloss (Democratic Party) is a member of the U.S. House, representing Massachusetts’ 4th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Auchincloss (Democratic Party) is running for re-election to the U.S. House to represent Massachusetts’ 4th Congressional District. He declared candidacy for the 2026 election.

Jake Auchincloss was born in Boston, Massachusetts. Auchincloss served in the United States Marine Corps from 2010 to 2015 and reached the rank of captain. He earned an undergraduate degree from Harvard College in 2010 and a graduate degree from the Massachusetts Institute of Technology in 2016. Auchincloss’ career experience includes working as a product manager with a cybersecurity startup and as a senior manager for new products with Solaria Labs at Liberty Mutual Insurance.

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.