Insider Selling: State Street (NYSE:STT) EVP Sells $461,670.00 in Stock

State Street Corporation (NYSE:STT) EVP Michael Richards sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the executive vice president owned 43,522 shares in the company, valued at $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

State Street Stock Performance

State Street stock opened at $150.69 on Monday. The firm has a market capitalization of $41.75 billion, a P/E ratio of 15.28, a PEG ratio of 0.83 and a beta of 1.37. The stock has a fifty day moving average price of $130.81 and a 200 day moving average price of $126.29. State Street Corporation has a 52 week low of $85.68 and a 52 week high of $156.18. The company has a current ratio of 0.57, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating the consensus estimate of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 earnings per share. Equities research analysts anticipate that State Street Corporation will post 12.26 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Wednesday, April 1st were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, April 1st. State Street’s dividend payout ratio is presently 34.08%.

Analysts Set New Price Targets

Several equities analysts recently commented on STT shares. Zacks Research upgraded State Street from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group upped their target price on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Morgan Stanley upped their target price on State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Evercore set a $158.00 target price on State Street and gave the company an “outperform” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.00.

State Street News Summary

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street issued $800 million of fixed-to-floating rate senior notes to boost liquidity and funding flexibility — a constructive move for balance-sheet readiness and liquidity management. State Street Boosts Liquidity With New Senior Notes Offering
• Positive Sentiment: Zacks Research upgraded STT from “hold” to “strong-buy,” which can attract buyer interest and supports sentiment following recent earnings strength. Zacks.com
• Positive Sentiment: Short interest dropped ~27.8% month-over-month to ~3.52M shares (≈1.3% of float), reducing short pressure and the potential for short-driven volatility. No external link
• Neutral Sentiment: State Street reported portfolio moves where it ceased to be a substantial holder in Elsight Ltd., a routine passive-tracking/subsidiary rebalancing item that is unlikely to affect STT’s core business. State Street Ceases to Be Substantial Holder in Elsight
• Neutral Sentiment: Similar filings show State Street ceased being a substantial holder in Select Harvests and in Collins Foods — portfolio/ownership disclosures that are standard for an asset manager. State Street Ceases to Be Substantial Holder in Select Harvests State Street Group Ceases to Be Substantial Holder in Collins Foods
• Negative Sentiment: Multiple insider sales were disclosed today — a common near-term headwind for sentiment as investors watch insider behavior. Top State Street Insiders Quietly Unload a Chunk of Their Shares
• Negative Sentiment: COO Mostapha Tahiri sold 9,611 shares at an average $152.93 (~$1.47M), cutting his stake ~12.9%; the Form 4 is available on the SEC site. COO Form 4
• Negative Sentiment: EVP Michael L. Richards sold 3,000 shares at an average $153.89 (~$462k), reducing his ownership by ~6.5%; details on the SEC filing. EVP Form 4

Institutional Investors Weigh In On State Street

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC acquired a new stake in State Street during the fourth quarter worth about $29,000. Phillip James Consulting Co. acquired a new stake in State Street during the fourth quarter worth about $30,000. JPL Wealth Management LLC acquired a new stake in State Street during the third quarter worth about $29,000. True Wealth Design LLC increased its stake in State Street by 166.3% during the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after acquiring an additional 158 shares during the last quarter. Finally, Reflection Asset Management acquired a new stake in State Street during the fourth quarter worth about $35,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.