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

Representative Jake Auchincloss (Democratic-Massachusetts) recently sold shares of State Street Corporation (NYSE:STT). In a filing disclosed on February 19th, the Representative disclosed that they had sold between $15,001 and $50,000 in State Street stock on February 17th.

State Street Stock Performance

Shares of NYSE:STT traded up $0.03 during midday trading on Friday, reaching $127.90. The company had a trading volume of 1,173,360 shares, compared to its average volume of 1,828,916. The company’s 50 day moving average price is $130.09 and its 200 day moving average price is $120.61. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The stock has a market cap of $35.72 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.12 and a beta of 1.43. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $137.05.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, topping the consensus estimate of $2.82 by $0.15. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, April 1st. State Street’s payout ratio is presently 35.71%.

Analysts Set New Price Targets

STT has been the topic of several research analyst reports. Loop Capital set a $144.00 price objective on State Street in a research note on Tuesday, January 6th. Truist Financial set a $136.00 price target on State Street in a research report on Tuesday, January 20th. The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, TD Cowen reiterated a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, State Street currently has a consensus rating of “Moderate Buy” and an average price target of $135.83.

Hedge Funds Weigh In On State Street

Hedge funds have recently bought and sold shares of the company. Regents of The University of California bought a new position in shares of State Street in the 3rd quarter worth $324,576,000. Jones Financial Companies Lllp grew its position in State Street by 11.7% in the third quarter. Jones Financial Companies Lllp now owns 208,600 shares of the asset manager’s stock worth $24,139,000 after acquiring an additional 21,810 shares in the last quarter. Machina Capital S.A.S. bought a new position in State Street in the third quarter valued at $2,622,000. AE Wealth Management LLC bought a new position in State Street in the third quarter valued at $6,611,000. Finally, Impax Asset Management Group plc raised its position in State Street by 49.2% during the third quarter. Impax Asset Management Group plc now owns 127,984 shares of the asset manager’s stock valued at $14,847,000 after purchasing an additional 42,198 shares in the last quarter. 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.