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State Street EVP Sarah Timby sells $307k in company stock

Published 22/05/2024, 21:14

In a recent transaction on May 21, Sarah Timby, Executive Vice President and Chief Administrative Officer at State Street Corp (NYSE:STT), sold 3,975 shares of the company's common stock. The shares were sold at a price of $77.41 each, amounting to a total value of $307,704. Following the sale, Timby's direct holdings in State Street Corp decreased to 15,573 shares.

State Street Corp, known for its financial services including investment management and commercial banking, has its shares traded under the ticker NYSE:STT. The transaction details, which were filed on May 22, do not suggest any particular motive behind the sale and are a routine disclosure required by the U.S. Securities and Exchange Commission.

Investors often monitor insider transactions such as these for insights into the confidence levels of a company's executives and their perspectives on the firm's future performance. However, it is important to note that these transactions can be motivated by a variety of factors and do not necessarily indicate a change in the company's outlook or operations.

The sale by Timby represents a notable movement within the company's insider trading activity, and the information provided offers transparency to investors keeping an eye on State Street Corp's corporate governance and insider trading patterns.

InvestingPro Insights

State Street Corp's recent insider trading activity presents an opportunity to delve deeper into the company's financial health and market performance. According to InvestingPro data, State Street Corp (NYSE:STT) has a market capitalization of $23.04 billion and a Price/Earnings (P/E) ratio of 13.95, which adjusts to a slightly lower 12.39 when considering the last twelve months as of Q1 2024. This suggests a valuation that could be attractive to investors looking for reasonably priced earnings.

Moreover, the company has demonstrated a commitment to returning value to shareholders. One of the InvestingPro Tips highlights that State Street Corp has raised its dividend for 13 consecutive years, and impressively, has maintained dividend payments for 54 consecutive years. This consistent dividend growth, which was 9.52% over the last twelve months as of Q1 2024, paired with a solid dividend yield of 3.58%, may be particularly appealing to income-focused investors.

Despite a slight revenue decline of -1.25% over the last twelve months as of Q1 2024, State Street Corp's operating income margin remains robust at 22.2%. This indicates the company's ability to manage its operations efficiently and maintain profitability. For those interested in further analysis, there are additional InvestingPro Tips available, including insights on management's share buybacks and analysts' earnings revisions for the upcoming period. To access these insights, visit https://www.investing.com/pro/STT, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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