Rep. Jake Auchincloss Sells Off Shares of State Street Corporation (NYSE:STT)

Representative Jake Auchincloss (Democratic-Massachusetts) recently sold shares of State Street Corporation (NYSE:STT). In a filing disclosed on February 19th, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on February 17th.

State Street Stock Up 0.0%

NYSE STT traded up $0.03 on Friday, hitting $127.90. 1,173,360 shares of the stock were exchanged, compared to its average volume of 1,828,916. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The company has a 50-day moving average price of $130.09 and a 200-day moving average price of $120.61. The company has a market cap of $35.72 billion, a PE ratio of 13.59, a PEG ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last posted its earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. State Street’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio is presently 35.71%.

Institutional Investors Weigh In On State Street

A number of hedge funds have recently added to or reduced their stakes in the company. Regents of The University of California lifted its holdings in shares of State Street by 211.2% in the 4th quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager’s stock valued at $1,123,186,000 after buying an additional 5,908,370 shares during the period. Invesco Ltd. increased its holdings in State Street by 4.7% in the second quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock valued at $910,934,000 after buying an additional 381,547 shares in the last quarter. Dodge & Cox lifted its position in shares of State Street by 1.1% during the 2nd quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock valued at $788,236,000 after acquiring an additional 80,855 shares during the period. Geode Capital Management LLC boosted its stake in shares of State Street by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock worth $784,930,000 after acquiring an additional 27,098 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of State Street by 9.0% in the 4th quarter. Morgan Stanley now owns 5,222,382 shares of the asset manager’s stock worth $673,740,000 after acquiring an additional 433,201 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on STT shares. Citigroup upped their target price on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Truist Financial set a $136.00 target price on State Street in a research report on Tuesday, January 20th. TD Cowen restated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Morgan Stanley decreased their price objective on State Street from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Finally, Loop Capital set a $144.00 target price on shares of State Street in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.83.

About Representative Auchincloss

Jake Auchincloss (Democratic Party) is a member of the U.S. House, representing Massachusetts’ 4th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027.

Auchincloss (Democratic Party) is running for re-election to the U.S. House to represent Massachusetts’ 4th Congressional District. He declared candidacy for the 2026 election.

Jake Auchincloss was born in Boston, Massachusetts. Auchincloss served in the United States Marine Corps from 2010 to 2015 and reached the rank of captain. He earned an undergraduate degree from Harvard College in 2010 and a graduate degree from the Massachusetts Institute of Technology in 2016. Auchincloss’ career experience includes working as a product manager with a cybersecurity startup and as a senior manager for new products with Solaria Labs at Liberty Mutual Insurance.

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.