Ann Fogarty Sells 3,705 Shares of State Street Co. (NYSE:STT) Stock

State Street Co. (NYSE:STT) EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares in the company, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

State Street Stock Down 0.9 %

STT stock opened at $98.74 on Friday. State Street Co. has a 1-year low of $70.20 and a 1-year high of $103.00. The business has a fifty day moving average price of $98.55 and a 200-day moving average price of $92.79. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $28.48 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast 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 $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, April 1st. State Street’s payout ratio is currently 36.89%.

Institutional Trading of State Street

Several large investors have recently modified their holdings of STT. Exchange Traded Concepts LLC grew its holdings in shares of State Street by 2,137.0% in the third 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 period. 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 acquiring an additional 2,470 shares during the period. Blue Trust Inc. grew its holdings 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 acquiring an additional 1,591 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of State Street by 17.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,545 shares of the asset manager’s stock worth $314,000 after acquiring an additional 529 shares during the period. Finally, Eastern Bank grew its holdings in shares of State Street by 1.4% in the third quarter. Eastern Bank now owns 42,299 shares of the asset manager’s stock worth $3,742,000 after acquiring an additional 593 shares during the period. Institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 price target (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Finally, Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, State Street currently has a consensus rating of “Hold” and an average price target of $100.73.

About State Street

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.