Eric W. Aboaf Sells 11,899 Shares of State Street Co. (NYSE:STT) Stock

State Street Co. (NYSE:STT – Get Rating) CFO Eric W. Aboaf sold 11,899 shares of State Street stock in a transaction on Friday, May 19th. The shares were sold at an average price of $68.28, for a total value of $812,463.72. Following the completion of the sale, the chief financial officer now directly owns 157,860 shares of the company’s stock, valued at $10,778,680.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

State Street Stock Down 2.0 %

Shares of State Street stock opened at $67.03 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.52 and a quick ratio of 0.52. State Street Co. has a 1-year low of $58.62 and a 1-year high of $94.74. The business has a 50-day moving average of $72.37 and a 200-day moving average of $79.10. The company has a market capitalization of $22.41 billion, a PE ratio of 9.39, a P/E/G ratio of 1.31 and a beta of 1.56.

State Street (NYSE:STT – Get Rating) last issued its earnings results 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 return on equity of 11.96% and a net margin of 18.73%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the business earned $1.59 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that State Street Co. will post 7.62 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Monday, July 3rd will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $2.52 annualized dividend and a yield of 3.76%. State Street’s payout ratio is 35.29%.

Institutional Investors Weigh In On State Street

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC bought a new stake in State Street during the third quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new position in shares of State Street during the 1st quarter valued at $28,000. Accurate Wealth Management LLC purchased a new position in shares of State Street during the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new stake in State Street in the first quarter worth $34,000. Finally, New Hampshire Trust bought a new stake in State Street in the fourth quarter worth $35,000. Institutional investors own 88.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays lowered their target price on State Street from $102.00 to $100.00 in a research note on Tuesday, April 18th. Morgan Stanley decreased their price target on State Street from $91.00 to $83.00 in a report on Tuesday, April 18th. Evercore ISI decreased their price target on State Street from $80.00 to $75.00 in a report on Friday, May 12th. Deutsche Bank Aktiengesellschaft reduced their target price on State Street from $70.00 to $68.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. Finally, Royal Bank of Canada dropped their price target on State Street from $85.00 to $80.00 in a research report on Friday, March 24th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $82.21.

About State Street

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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.