Insider Selling: State Street Co. (NYSE:STT) Director Sells 10,815 Shares of Stock

State Street Co. (NYSE:STT - Get Free Report) Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

State Street Price Performance

State Street stock traded down $0.67 during mid-day trading on Friday, hitting $98.97. 909,802 shares of the company traded hands, compared to its average volume of 1,945,162. The stock has a fifty day moving average price of $98.58 and a 200-day moving average price of $92.64. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth 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 debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that State Street Co. will post 9.65 earnings per share 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. Investors of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.07%. State Street's dividend payout ratio is 36.89%.

Institutional Trading of State Street

Institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC grew its position in State Street by 2,137.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager's stock worth $144,000 after acquiring an additional 1,560 shares during the last quarter. Creative Planning grew its holdings in shares of State Street by 13.4% in the third quarter. Creative Planning now owns 20,870 shares of the asset manager's stock worth $1,846,000 after purchasing an additional 2,470 shares during the last quarter. Blue Trust Inc. increased its stake in shares of State Street by 55.6% in the third quarter. Blue Trust Inc. now owns 4,452 shares of the asset manager's stock worth $394,000 after buying an additional 1,591 shares during the period. Sequoia Financial Advisors LLC raised its holdings in State Street by 17.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,545 shares of the asset manager's stock valued at $314,000 after buying an additional 529 shares during the last quarter. Finally, Eastern Bank raised its holdings in State Street by 1.4% during the 3rd quarter. Eastern Bank now owns 42,299 shares of the asset manager's stock valued at $3,742,000 after buying an additional 593 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STT has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Truist Financial cut their price target on State Street from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Wolfe Research upgraded State Street from an "underperform" rating to a "peer perform" rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. upgraded State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price on the stock in a report on Friday, December 20th. One equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.