State Street (NYSE:STT) EVP W. Bradford Hu Sells 9,758 Shares

State Street Corporation (NYSE:STT) EVP W. Bradford Hu sold 9,758 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the sale, the executive vice president directly owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This represents a 16.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

W. Bradford Hu also recently made the following trade(s):

• On Tuesday, May 26th, W. Bradford Hu sold 9,212 shares of State Street stock. The stock was sold at an average price of $155.35, for a total value of $1,431,084.20.

State Street Stock Performance

Shares of STT stock opened at $182.77 on Wednesday. The firm has a 50 day moving average of $170.32 and a 200-day moving average of $146.79. The company has a market cap of $50.59 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.42. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.04. State Street Corporation has a 52 week low of $104.64 and a 52 week high of $192.51.

State Street (NYSE:STT) last released its earnings results on Thursday, July 16th. The asset manager reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.88 billion. State Street had a net margin of 15.02% and a return on equity of 15.26%. State Street’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.04 EPS. On average, equities analysts forecast that State Street Corporation will post 13.68 earnings per share for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.92 per share. This is an increase from State Street’s previous quarterly dividend of $0.84. This represents a $3.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, October 1st. State Street’s dividend payout ratio (DPR) is currently 29.63%.

Institutional Trading of State Street

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC increased its stake in State Street by 3.1% during the first quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock worth $253,000 after acquiring an additional 60 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of State Street by 1.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,351 shares of the asset manager’s stock valued at $675,000 after buying an additional 83 shares during the period. Arjuna Capital lifted its position 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 acquiring an additional 95 shares in the last quarter. CX Institutional boosted its holdings in State Street by 1.0% in the 2nd quarter. CX Institutional now owns 9,788 shares of the asset manager’s stock worth $1,660,000 after acquiring an additional 98 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in State Street by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock valued at $4,053,000 after acquiring an additional 100 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on State Street from $158.50 to $176.50 and gave the company a “neutral” rating in a research note on Monday, July 6th. The Goldman Sachs Group raised their price objective on State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Morgan Stanley upped their target price on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Citigroup increased their target price on State Street from $193.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, Seaport Research Partners reissued a “buy” rating and issued a $170.00 price target on shares of State Street in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and a consensus target price of $184.72.

About State Street

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.