State Street Co. (NYSE:STT) Director Gregory L. Summe Sells 10,815 Shares

State Street Co. (NYSE:STT) Director Gregory L. Summe sold 10,815 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

State Street Stock Performance

State Street stock traded down $0.62 during mid-day trading on Wednesday, reaching $99.82. 2,008,597 shares of the company were exchanged, compared to its average volume of 1,977,687. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $28.80 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The firm’s 50-day simple moving average is $98.59 and its two-hundred day simple moving average is $92.54. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $2.04 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Equities analysts predict that State Street Co. will post 9.65 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.76 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 3.05%. State Street’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on STT shares. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price objective (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley cut their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, Truist Financial reduced their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $100.73.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Albion Financial Group UT purchased a new stake in shares of State Street during the 4th quarter valued at $25,000. Y.D. More Investments Ltd raised its stake in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in State Street in the 4th quarter valued at about $42,000. Coppell Advisory Solutions LLC grew its stake in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 412 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of State Street in the third quarter worth $44,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.