Ian Appleyard Sells 6,725 Shares of State Street Co. (NYSE:STT) Stock

State Street Co. (NYSE:STT – Get Rating) CAO Ian Appleyard sold 6,725 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $88.42, for a total value of $594,624.50. Following the sale, the chief accounting officer now owns 14,493 shares in the company, valued at approximately $1,281,471.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

State Street Stock Up 0.9 %

Shares of State Street stock opened at $89.51 on Thursday. The stock has a market capitalization of $30.83 billion, a P/E ratio of 12.45, a PEG ratio of 1.16 and a beta of 1.59. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $85.98 and a two-hundred day moving average price of $76.73. State Street Co. has a 12-month low of $58.62 and a 12-month high of $94.74.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Monday, April 3rd will be given a dividend of $0.63 per share. The ex-dividend date is Friday, March 31st. This represents a $2.52 dividend on an annualized basis and a yield of 2.82%. State Street’s payout ratio is currently 35.05%.

Institutional Investors Weigh In On State Street

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of State Street by 0.4% during the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager’s stock worth $2,997,806,000 after buying an additional 146,048 shares during the last quarter. State Street Corp lifted its holdings in shares of State Street by 7.9% during the third quarter. State Street Corp now owns 18,758,945 shares of the asset manager’s stock worth $1,152,445,000 after buying an additional 1,365,681 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of State Street by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 7,517,455 shares of the asset manager’s stock worth $582,069,000 after buying an additional 60,433 shares during the last quarter. Morgan Stanley lifted its holdings in shares of State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock worth $467,876,000 after buying an additional 1,430,237 shares during the last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of State Street by 2.6% during the fourth quarter. Cooke & Bieler LP now owns 4,161,803 shares of the asset manager’s stock worth $322,831,000 after buying an additional 107,361 shares during the last quarter. Institutional investors own 88.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on STT shares. Deutsche Bank Aktiengesellschaft lifted their target price on State Street from $82.00 to $85.00 in a research note on Wednesday, January 11th. Morgan Stanley lifted their target price on State Street from $93.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. The Goldman Sachs Group started coverage on State Street in a research note on Wednesday, January 4th. They set a “neutral” rating on the stock. Wells Fargo & Company raised State Street from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $88.00 to $98.00 in a research note on Monday. Finally, Citigroup lifted their target price on State Street from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, December 1st. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.75.

State Street Company Profile

(Get Rating)

State Street Corp. engages in the provision of financial services to institutional investors. It operates through the Commercial and Financial, and Commercial Real Estate segments. The company was founded in 1792 and is headquartered in Boston, MA.