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

Representative Jake Auchincloss (D-Massachusetts) recently sold shares of State Street Co. (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 16th.

State Street Price Performance

State Street stock traded up $0.89 on Tuesday, reaching $96.99. The company’s stock had a trading volume of 1,229,563 shares, compared to its average volume of 2,132,163. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $27.66 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.11 and a beta of 1.42. The business’s fifty day moving average price is $88.36 and its 200 day moving average price is $93.93. State Street Co. has a twelve month low of $70.20 and a twelve month high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. During the same quarter in the previous year, the firm earned $1.69 earnings per share. Equities analysts expect that State Street Co. will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.76 per share. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.13%. State Street’s dividend payout ratio is 34.12%.

Insiders Place Their Bets

In related news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Truist Financial reduced their price objective on State Street from $89.00 to $85.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Citigroup reduced their price objective on State Street from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Barclays dropped their target price on State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.15.

Institutional Investors Weigh In On State Street

Large investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC bought a new stake in shares of State Street in the fourth quarter worth about $272,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of State Street by 3.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 457,924 shares of the asset manager’s stock worth $44,725,000 after acquiring an additional 14,476 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of State Street by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,874,936 shares of the asset manager’s stock worth $184,025,000 after acquiring an additional 10,404 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock worth $7,289,000 after acquiring an additional 7,446 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of State Street in the fourth quarter worth about $395,000. 87.44% of the stock is currently owned by institutional investors.

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, 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.