Rep. Jake Auchincloss Sells State Street Corporation (NYSE:STT) Stock

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 Trading Up 0.0%

NYSE:STT opened at $127.90 on Friday. The firm has a market capitalization of $35.72 billion, a P/E ratio of 13.59, a P/E/G 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. The company has a fifty day moving average of $130.09 and a 200 day moving average of $120.53. State Street Corporation has a 52 week low of $72.81 and a 52 week high of $137.05.

State Street (NYSE:STT) last released its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.15. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. On average, research analysts predict that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders 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 of this dividend is Wednesday, April 1st. State Street’s dividend payout ratio is 35.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on STT shares. TD Cowen reaffirmed a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research note on Wednesday, January 21st. Loop Capital set a $144.00 price target on shares of State Street in a report on Tuesday, January 6th. Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Finally, Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, State Street currently has an average rating of “Moderate Buy” and a consensus price target of $135.83.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its holdings in State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after purchasing an additional 158 shares in the last quarter. Wilkerson Advisory Group LLC bought a new stake in shares of State Street during the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC purchased a new position in shares of State Street in the third quarter worth $29,000. Flagship Wealth Advisors LLC bought a new position in shares of State Street during the third quarter worth $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in State Street during the third quarter valued at $35,000. 87.44% of the stock is currently owned by institutional investors.

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.

State Street Company Profile

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.