State Street Co. (NYSE:STT) EVP Michael L. Richards Sells 1,814 Shares

State Street Co. (NYSE:STT – Get Rating) EVP Michael L. Richards sold 1,814 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $68.17, for a total value of $123,660.38. Following the transaction, the executive vice president now directly owns 33,197 shares of the company’s stock, valued at $2,263,039.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

State Street Stock Up 0.7 %

Shares of NYSE:STT opened at $68.50 on Tuesday. The stock’s 50-day moving average price is $72.67 and its 200-day moving average price is $79.23. State Street Co. has a 12-month low of $58.62 and a 12-month high of $94.74. The stock has a market capitalization of $23.05 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.31 and a beta of 1.56. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72.

State Street (NYSE:STT – Get Rating) last announced its quarterly earnings data on Monday, April 17th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.12). State Street had a net margin of 18.73% and a return on equity of 11.96%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business posted $1.59 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that State Street Co. will post 7.62 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Monday, July 3rd will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, June 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.68%. State Street’s dividend payout ratio (DPR) is currently 35.29%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Evercore ISI cut their price target on State Street from $80.00 to $75.00 in a report on Friday, May 12th. Morgan Stanley cut their price target on State Street from $91.00 to $83.00 in a report on Tuesday, April 18th. UBS Group lowered their price objective on State Street from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, April 4th. Credit Suisse Group increased their price objective on State Street from $76.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Finally, Barclays lowered their price objective on State Street from $102.00 to $100.00 in a research report on Tuesday, April 18th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, State Street presently has a consensus rating of “Hold” and a consensus target price of $82.21.

Institutional Trading of State Street

Several large investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of State Street by 10.9% in the first quarter. Ameriprise Financial Inc. now owns 12,370,805 shares of the asset manager’s stock worth $936,377,000 after purchasing an additional 1,213,996 shares during the last quarter. Power Corp of Canada bought a new stake in shares of State Street in the first quarter worth about $3,814,000. JPMorgan Chase & Co. grew its stake in shares of State Street by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager’s stock worth $373,551,000 after purchasing an additional 469,309 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of State Street by 2.5% in the first quarter. Rockefeller Capital Management L.P. now owns 13,523 shares of the asset manager’s stock worth $1,022,000 after purchasing an additional 333 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of State Street in the first quarter worth about $70,000. 88.41% of the stock is owned by institutional investors.

State Street Company Profile

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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.