State Street Corp (NYSE:STT) Director Saint-Aignan Patrick De Buys 1,000 Shares

State Street Corp (NYSE:STT) Director Saint-Aignan Patrick De acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $54.32 per share, for a total transaction of $54,320.00. Following the completion of the acquisition, the director now owns 30,793 shares in the company, valued at $1,672,675.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Saint-Aignan Patrick De also recently made the following trade(s):

  • On Tuesday, July 30th, Saint-Aignan Patrick De acquired 500 shares of State Street stock. The shares were bought at an average price of $58.75 per share, for a total transaction of $29,375.00.
  • On Thursday, August 1st, Saint-Aignan Patrick De acquired 1,500 shares of State Street stock. The shares were bought at an average price of $57.75 per share, for a total transaction of $86,625.00.
  • On Monday, July 22nd, Saint-Aignan Patrick De acquired 500 shares of State Street stock. The shares were bought at an average price of $58.85 per share, for a total transaction of $29,425.00.

Shares of STT traded down $1.86 during mid-day trading on Monday, reaching $53.80. 3,577,124 shares of the stock traded hands, compared to its average volume of 2,926,684. The stock has a market cap of $20.74 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The firm has a fifty day moving average of $56.64. State Street Corp has a 12-month low of $53.18 and a 12-month high of $90.20. The company has a current ratio of 0.48, a quick ratio of 0.45 and a debt-to-equity ratio of 0.52.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, July 19th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.05. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.86 billion. State Street had a net margin of 17.66% and a return on equity of 12.13%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. As a group, research analysts predict that State Street Corp will post 5.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, July 1st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, June 28th. State Street’s payout ratio is currently 26.04%.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of State Street from $80.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 19th. Wells Fargo & Co cut their price target on shares of State Street from $75.00 to $63.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Bank of America restated a “buy” rating and issued a $65.00 price target (down previously from $75.00) on shares of State Street in a report on Thursday, June 6th. Buckingham Research cut their price target on shares of State Street from $83.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. Finally, Zacks Investment Research lowered shares of State Street from a “hold” rating to a “sell” rating and set a $59.00 price target on the stock. in a report on Tuesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $69.42.

Hedge funds have recently added to or reduced their stakes in the company. CIBC World Markets Inc. grew its position in shares of State Street by 58.5% during the first quarter. CIBC World Markets Inc. now owns 16,699 shares of the asset manager’s stock worth $1,099,000 after buying an additional 6,165 shares in the last quarter. Goelzer Investment Management Inc. acquired a new position in State Street in the first quarter worth $316,000. Harvest Group Wealth Management LLC acquired a new position in State Street in the first quarter worth $28,000. Rothschild & Co. Asset Management US Inc. boosted its holdings in State Street by 0.6% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 804,362 shares of the asset manager’s stock worth $52,935,000 after purchasing an additional 4,529 shares during the period. Finally, Letko Brosseau & Associates Inc. boosted its holdings in State Street by 4.0% in the first quarter. Letko Brosseau & Associates Inc. now owns 1,391,515 shares of the asset manager’s stock worth $91,576,000 after purchasing an additional 54,162 shares during the period. 89.34% of the stock is owned by institutional investors and hedge funds.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Insider Buying and Selling by Quarter for State Street (NYSE:STT)

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