State Street (NYSE:STT) COO Sells $1,469,810.23 in Stock

State Street Corporation (NYSE:STT) COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer directly owned 64,642 shares of the company’s stock, valued at $9,885,701.06. This represents a 12.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

State Street Stock Performance

STT stock opened at $150.69 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.57 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $41.75 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 0.83 and a beta of 1.37. State Street Corporation has a 12 month low of $85.68 and a 12 month high of $156.18. The firm has a 50 day moving average of $130.81 and a two-hundred day moving average of $126.29.

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

State Street Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wilkerson Advisory Group LLC acquired a new position in State Street in the 4th quarter valued at $29,000. Phillip James Consulting Co. bought a new stake in State Street in the 4th quarter valued at $30,000. JPL Wealth Management LLC bought a new stake in State Street in the 3rd quarter valued at $29,000. True Wealth Design LLC boosted its holdings in State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 158 shares during the period. Finally, Reflection Asset Management bought a new position in shares of State Street during the 4th quarter worth about $35,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about State Street

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

Wall Street Analysts Forecast Growth

Several research firms have commented on STT. Argus boosted their target price on shares of State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Truist Financial boosted their target price on shares of State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, April 20th. Wall Street Zen raised shares of State Street from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Royal Bank Of Canada upped their price objective on shares of State Street from $135.00 to $155.00 and gave the stock a “sector perform” rating in a report on Monday, April 20th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $170.00 target price on shares of State Street in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average target price of $154.00.

State Street Company Profile

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.