Rep. Jake Auchincloss Sells State Street Co. (NYSE:STT) Shares

Representative Jake Auchincloss (D-Massachusetts) recently sold shares of State Street Co. (NYSE:STT). In a filing disclosed on February 21st, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on February 18th.

State Street Price Performance

Shares of STT stock traded down $1.54 on Tuesday, reaching $97.01. The company’s stock had a trading volume of 319,289 shares, compared to its average volume of 1,918,959. The stock’s 50 day simple moving average is $98.50 and its 200-day simple moving average is $93.16. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $27.98 billion, a P/E ratio of 11.79, a PEG ratio of 1.11 and a beta of 1.43. State Street Co. has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 in the prior year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.13%. State Street’s payout ratio is presently 36.89%.

Insider Buying and Selling at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, 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 accessible through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on STT shares. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Morgan Stanley reduced their price target on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.73.

Institutional Investors Weigh In On State Street

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in State Street by 5.7% in the fourth quarter. Invesco Ltd. now owns 7,510,570 shares of the asset manager’s stock valued at $737,162,000 after purchasing an additional 406,396 shares in the last quarter. Geode Capital Management LLC increased its position in State Street by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 7,193,687 shares of the asset manager’s stock valued at $704,238,000 after buying an additional 24,617 shares in the last quarter. FMR LLC lifted its position in shares of State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock worth $685,441,000 after buying an additional 870,849 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after buying an additional 1,354,560 shares in the last quarter. Finally, Amundi increased its stake in State Street by 11.1% in the fourth quarter. Amundi now owns 5,602,547 shares of the asset manager’s stock valued at $547,636,000 after acquiring an additional 561,773 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

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.

About State Street

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.