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

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 Up 0.0%

State Street stock traded up $0.03 during mid-day trading on Friday, reaching $127.90. The stock had a trading volume of 1,173,360 shares, compared to its average volume of 1,828,916. The firm has a market capitalization of $35.72 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street Corporation has a fifty-two week low of $72.81 and a fifty-two week high of $137.05. The stock’s 50-day simple moving average is $130.09 and its 200-day simple moving average is $120.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61.

State Street (NYSE:STT) last issued its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.15. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.57 billion. State Street had a return on equity of 13.46% and a net margin of 13.02%.State Street’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $2.60 EPS. On average, sell-side analysts forecast that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Wednesday, April 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, April 1st. State Street’s dividend payout ratio (DPR) is presently 35.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC raised its stake in shares of State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after purchasing an additional 158 shares during the period. Wilkerson Advisory Group LLC purchased a new stake in State Street during the fourth quarter worth about $29,000. JPL Wealth Management LLC bought a new stake in State Street in the third quarter worth about $29,000. Flagship Wealth Advisors LLC purchased a new position in State Street in the third quarter valued at about $35,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of State Street during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

STT has been the subject of several recent research reports. Loop Capital set a $144.00 target price on shares of State Street in a research report on Tuesday, January 6th. Truist Financial set a $136.00 price objective on State Street in a report on Tuesday, January 20th. TD Cowen restated a “buy” rating on shares of State Street in a report on Wednesday, January 7th. Citigroup lifted their target price on State Street from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.83.

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 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.