State Street (NYSE:STT) EVP John Plansky Sells 16,100 Shares

State Street Corporation (NYSE:STT) EVP John Plansky sold 16,100 shares of State Street stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the transaction, the executive vice president owned 56,162 shares in the company, valued at approximately $6,982,059.84. The trade was a 22.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

State Street Price Performance

Shares of STT stock traded down $0.26 on Friday, hitting $122.95. 410,007 shares of the company’s stock were exchanged, compared to its average volume of 2,176,515. The company has a 50 day moving average of $129.07 and a 200 day moving average of $121.96. The stock has a market cap of $34.27 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.61. State Street Corporation has a 12 month low of $72.81 and a 12 month high of $137.05.

State Street (NYSE:STT) last released its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business posted $2.60 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts predict that State Street Corporation will post 9.68 EPS for the current year.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be given a $0.84 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. State Street’s dividend payout ratio (DPR) is currently 35.71%.

Wall Street Analyst Weigh In

STT has been the subject of a number of research reports. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Loop Capital set a $144.00 target price on State Street in a report on Tuesday, January 6th. Citigroup started coverage on State Street in a research note on Monday, February 23rd. They set a “buy” rating and a $150.00 price target on the stock. Zacks Research cut State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of State Street in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average price target of $135.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC increased its stake in shares of State Street by 166.3% in the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after buying an additional 158 shares during the period. Wilkerson Advisory Group LLC bought a new stake in State Street in the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC acquired a new stake in State Street during the 3rd quarter valued at approximately $29,000. Phillip James Consulting Co. bought a new position in State Street during the 4th quarter worth approximately $30,000. Finally, Flagship Wealth Advisors LLC bought a new position in State Street during the 3rd quarter worth approximately $35,000. 87.44% of the stock is owned by institutional investors and hedge funds.

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.