Representative Jake Auchincloss (Democratic-Massachusetts) recently sold shares of State Street Corporation (NYSE:STT). In a filing disclosed on May 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on May 18th. The trade occurred in the Representative’s “FIDELITY BROKERAGE – MG” account.
State Street Stock Up 0.0%
Shares of NYSE:STT opened at $153.96 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $42.61 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45. The firm’s 50-day moving average is $140.38 and its two-hundred day moving average is $131.20. State Street Corporation has a 1 year low of $94.19 and a 1 year high of $156.18.
State Street (NYSE:STT – Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. Analysts predict that State Street Corporation will post 12.35 EPS for the current year.
State Street Announces Dividend
Insider Buying and Selling
In related news, COO Mostapha Tahiri sold 9,611 shares of State Street stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total transaction of $1,469,810.23. Following the completion of the sale, the chief operating officer owned 64,642 shares in the company, valued at approximately $9,885,701.06. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the sale, the executive vice president directly owned 56,162 shares in the company, valued at approximately $6,982,059.84. The trade was a 22.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On State Street
A number of hedge funds and other institutional investors have recently bought and sold shares of STT. Wilkerson Advisory Group LLC acquired a new stake in State Street in the fourth quarter valued at $29,000. JPL Wealth Management LLC acquired a new stake in State Street in the third quarter valued at $29,000. Phillip James Consulting Co. purchased a new position in shares of State Street in the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of State Street in the first quarter valued at $34,000. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of State Street in the third quarter valued at $35,000. Institutional investors and hedge funds own 87.44% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on STT. JPMorgan Chase & Co. upped their target price on shares of State Street from $137.50 to $158.50 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Barclays set a $165.00 price target on shares of State Street in a research note on Monday, April 20th. Royal Bank Of Canada increased their price target on shares of State Street from $135.00 to $155.00 and gave the company a “sector perform” rating in a research note on Monday, April 20th. Morgan Stanley increased their price target on shares of State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Finally, Evercore set a $158.00 price objective on State Street and gave the company an “outperform” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.77.
View Our Latest Research Report on State Street
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.
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