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

State Street Co. (NYSE:STT) Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

State Street Stock Down 0.9 %

Shares of STT opened at $98.74 on Friday. State Street Co. has a one year low of $70.20 and a one year high of $103.00. The company has a market cap 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. 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 firm has a 50 day simple moving average of $98.55 and a two-hundred day simple moving average of $92.79.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate 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 period 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. Research analysts forecast that State Street Co. will post 9.65 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.08%. State Street’s payout ratio is presently 36.89%.

Wall Street Analysts Forecast Growth

STT has been the subject of several research reports. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays lifted their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Finally, Morgan Stanley dropped their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.73.

Institutional Trading of State Street

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aurdan Capital Management LLC bought a new stake in shares of State Street during the fourth quarter worth $5,515,000. Forum Financial Management LP grew its stake in shares of State Street by 5.5% during the fourth quarter. Forum Financial Management LP now owns 4,483 shares of the asset manager’s stock worth $440,000 after buying an additional 232 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of State Street by 4.4% during the fourth quarter. Toronto Dominion Bank now owns 162,126 shares of the asset manager’s stock worth $15,912,000 after buying an additional 6,907 shares during the last quarter. Invst LLC grew its stake in shares of State Street by 1.8% during the fourth quarter. Invst LLC now owns 11,582 shares of the asset manager’s stock worth $1,137,000 after buying an additional 206 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of State Street during the fourth quarter worth $3,361,000. Institutional investors own 87.44% of the company’s stock.

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.