State Street (NYSE:STT) EVP John Plansky Sells 16,100 Shares

State Street Corporation (NYSE:STT) EVP John Plansky sold 16,100 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the sale, the executive vice president owned 56,162 shares of the company’s stock, valued at approximately $6,982,059.84. This represents a 22.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

State Street Price Performance

NYSE:STT traded down $2.89 during trading hours on Thursday, hitting $123.11. The company’s stock had a trading volume of 1,792,344 shares, compared to its average volume of 2,193,628. The stock has a fifty day simple moving average of $129.19 and a 200-day simple moving average of $121.95. The company has a market capitalization of $34.31 billion, a P/E ratio of 13.08, a PEG ratio of 1.07 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05.

State Street (NYSE:STT) last issued its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. On average, analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio is currently 35.71%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STT. Truist Financial set a $136.00 target price on shares of State Street in a research note on Tuesday, January 20th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. TD Cowen restated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of State Street in a report on Wednesday, January 21st. Finally, Loop Capital set a $144.00 target price on State Street in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently modified their holdings of STT. Brighton Jones LLC bought a new position in State Street during the 4th quarter worth $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock valued at $2,885,000 after buying an additional 918 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of State Street by 105.2% in the first quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock valued at $913,000 after buying an additional 5,226 shares during the period. Empowered Funds LLC increased its stake in shares of State Street by 220.1% in the first quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after buying an additional 15,996 shares during the period. Finally, Woodline Partners LP raised its position in shares of State Street by 38.4% during the first quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock worth $2,182,000 after acquiring an additional 6,767 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

About State Street

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.