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 stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

State Street Trading Down 0.2 %

Shares of State Street stock opened at $99.63 on Friday. The business has a fifty day simple moving average of $98.58 and a two-hundred day simple moving average of $92.64. State Street Co. has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a market capitalization of $28.74 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.12 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.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm 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 year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.05%. State Street’s payout ratio is currently 36.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STT. Albion Financial Group UT bought a new position in shares of State Street in the fourth quarter worth $25,000. Y.D. More Investments Ltd increased its position in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in State Street in the fourth quarter valued at about $42,000. Coppell Advisory Solutions LLC grew its position in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 412 shares during the last quarter. Finally, Coastline Trust Co bought a new position in State Street in the third quarter valued at about $44,000. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of several research reports. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised 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 note on Friday, December 20th. Morgan Stanley decreased 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 note on Friday, January 3rd. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. Finally, Barclays raised their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Company Profile

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.