State Street (NYSE:STT) Stock Unloaded Rep. Jake Auchincloss

Representative Jake Auchincloss (Democratic-Massachusetts) recently sold shares of State Street Corporation (NYSE:STT). In a filing disclosed on May 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on May 18th. The trade occurred in the Representative’s “FIDELITY BROKERAGE – MG” account.

State Street Stock Performance

NYSE:STT opened at $153.96 on Tuesday. The stock has a market cap of $42.61 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.45. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average is $140.38 and its 200-day moving average is $131.20. State Street Corporation has a 1-year low of $94.19 and a 1-year high of $156.18.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.20. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a net margin of 13.47% and a return on equity of 14.22%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 EPS. Equities research analysts anticipate that State Street Corporation will post 12.35 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $3.36 annualized dividend and a yield of 2.2%. State Street’s payout ratio is presently 34.08%.

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president directly owned 43,522 shares of the company’s stock, valued at approximately $6,697,600.58. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mostapha Tahiri sold 9,611 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $152.93, for a total value of $1,469,810.23. Following the completion of the sale, the chief operating officer directly owned 64,642 shares in the company, valued at $9,885,701.06. This trade represents a 12.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 28,711 shares of company stock worth $3,933,032. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

STT has been the subject of a number of research analyst reports. Argus boosted their target price on State Street from $140.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on State Street from $137.50 to $158.50 and gave the company a “neutral” rating in a research report on Monday, May 11th. Bank of America raised State Street from an “underperform” rating to a “neutral” rating and set a $143.00 target price for the company in a research report on Monday, April 6th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of State Street in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and an average target price of $155.77.

Hedge Funds Weigh In On State Street

Institutional investors have recently bought and sold shares of the company. Wilkerson Advisory Group LLC purchased a new position in State Street during the fourth quarter worth about $29,000. Phillip James Consulting Co. bought a new position in shares of State Street during the 4th quarter valued at $30,000. JPL Wealth Management LLC purchased a new position in State Street in the 3rd quarter worth $29,000. Whipplewood Advisors LLC bought a new stake in State Street in the first quarter worth $34,000. Finally, Reflection Asset Management bought a new stake in State Street in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.

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.