Anthony Bisegna Sells 2,606 Shares of State Street Co. (NYSE:STT) Stock

State Street Co. (NYSE:STTGet Free Report) EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at $1,294,801. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

State Street Price Performance

Shares of NYSE:STT opened at $72.15 on Thursday. The business’s fifty day moving average price is $75.28 and its two-hundred day moving average price is $71.02. The stock has a market cap of $21.78 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.43 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.55 and a current ratio of 0.55. State Street Co. has a one year low of $62.78 and a one year high of $91.15.

State Street (NYSE:STTGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. State Street had a return on equity of 11.86% and a net margin of 10.59%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts forecast that State Street Co. will post 7.87 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Thursday, March 28th. State Street’s dividend payout ratio is presently 50.27%.

Analyst Upgrades and Downgrades

Several analysts have commented on STT shares. UBS Group upped their price objective on State Street from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Barclays boosted their target price on State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group upgraded State Street from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $92.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 target price on shares of State Street in a research report on Wednesday, December 6th. Finally, Bank of America reiterated an “underperform” rating and set a $81.00 target price on shares of State Street in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.83.

View Our Latest Analysis on State Street

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its stake in shares of State Street by 11.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the asset manager’s stock worth $103,000 after purchasing an additional 143 shares during the period. IFP Advisors Inc raised its position in shares of State Street by 24.9% in the 2nd quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock worth $72,000 after buying an additional 146 shares during the period. Bleakley Financial Group LLC raised its position in shares of State Street by 1.8% in the 2nd quarter. Bleakley Financial Group LLC now owns 8,147 shares of the asset manager’s stock worth $596,000 after buying an additional 147 shares during the period. First Manhattan Co. raised its position in shares of State Street by 7.5% in the 4th quarter. First Manhattan Co. now owns 2,119 shares of the asset manager’s stock worth $164,000 after buying an additional 148 shares during the period. Finally, Apollon Wealth Management LLC raised its position in shares of State Street by 1.8% in the 4th quarter. Apollon Wealth Management LLC now owns 8,337 shares of the asset manager’s stock worth $647,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

About State Street

(Get Free Report)

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.

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