Hanley Ronald O Sells 14,553 Shares of State Street (NYSE:STT) Stock

State Street Corporation (NYSE:STT) CEO Hanley Ronald O sold 14,553 shares of State Street stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.35, for a total value of $2,260,808.55. Following the sale, the chief executive officer directly owned 255,512 shares of the company’s stock, valued at approximately $39,693,789.20. This represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

State Street Stock Down 1.3%

Shares of STT stock opened at $155.63 on Friday. State Street Corporation has a fifty-two week low of $94.72 and a fifty-two week high of $159.31. The firm has a market capitalization of $43.07 billion, a PE ratio of 15.78, a P/E/G ratio of 0.86 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.57 and a current ratio of 0.57. The stock’s 50-day simple moving average is $143.30 and its 200-day simple moving average is $132.22.

State Street (NYSE:STT) last released its earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities analysts expect that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, July 1st. State Street’s payout ratio is presently 34.08%.

Trending Headlines about State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: State Street was highlighted as one of the better-positioned names in the regional banks/financials group, with analysts citing favorable industry trends such as restructuring, acquisitions, digitization, loan demand, and lower rates as potential tailwinds for growth. Article Title
• Positive Sentiment: State Street Investment Management announced it will close and liquidate the EMTL ETF, which can be read as disciplined product management and a focus on pruning weaker offerings to improve capital efficiency. Article Title
• Neutral Sentiment: State Street announced that CFO John Woods will present at the Morgan Stanley U.S. Financials Conference on June 10. The event may provide updates on strategy and outlook, but it is not a direct business catalyst by itself. Article Title
• Neutral Sentiment: State Street’s entities ceased to be substantial holders in several Australian companies, reflecting portfolio ownership changes that do not appear material to State Street’s own earnings power. Article Title
• Negative Sentiment: CEO Ronald P. Hanley and EVP W. Bradford Hu both sold shares under pre-arranged 10b5-1 plans. While routine, insider selling can still pressure sentiment when the stock is trading close to recent highs. Article Title

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its position in shares of State Street by 1.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock worth $675,000 after purchasing an additional 83 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of State Street by 1.3% in the fourth quarter. Wedmont Private Capital now owns 6,498 shares of the asset manager’s stock valued at $861,000 after purchasing an additional 85 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after buying an additional 94 shares during the period. Arjuna Capital lifted its holdings in State Street by 0.4% during the 4th quarter. Arjuna Capital now owns 25,139 shares of the asset manager’s stock worth $3,243,000 after buying an additional 95 shares in the last quarter. Finally, LVW Advisors LLC lifted its holdings in State Street by 1.7% during the 4th quarter. LVW Advisors LLC now owns 5,605 shares of the asset manager’s stock worth $723,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on STT shares. Bank of America upgraded shares of State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective on the stock in a research note on Monday, April 6th. Weiss Ratings upgraded shares of State Street from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. Morgan Stanley upped their price target on shares of State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, April 20th. The Goldman Sachs Group lifted their price objective on State Street from $152.00 to $168.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada boosted their price objective on State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.57.

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.