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 on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

State Street Stock Performance

NYSE:STT traded down $0.62 during trading hours on Wednesday, reaching $99.82. The stock had a trading volume of 2,008,597 shares, compared to its average volume of 1,977,687. The stock has a 50 day simple moving average of $98.59 and a 200 day simple moving average of $92.54. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00. The stock has a market cap of $28.80 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

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

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Wall Street Analyst Weigh In

STT has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wolfe Research raised State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley reduced their price target 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. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.73.

Hedge Funds Weigh In On State Street

Large investors have recently bought and sold shares of the stock. Adero Partners LLC lifted its stake in State Street by 3.6% in the fourth quarter. Adero Partners LLC now owns 2,900 shares of the asset manager’s stock worth $285,000 after acquiring an additional 100 shares during the period. Peapack Gladstone Financial Corp boosted its stake in State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 103 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in State Street by 1.0% in the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager’s stock worth $1,201,000 after buying an additional 121 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of State Street by 0.7% during the fourth quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager’s stock valued at $1,799,000 after purchasing an additional 131 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in shares of State Street by 1.4% during the 4th quarter. Apollon Wealth Management LLC now owns 10,050 shares of the asset manager’s stock valued at $986,000 after buying an additional 138 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.