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BOSTON—Patrick de Saint-Aignan, a director at State Street Corp (NYSE:STT), sold 8,028 shares of the company’s common stock on February 18, according to a recent SEC filing. The shares were sold at an average price of $99.96, generating a total transaction value of $802,478.
Following this transaction, de Saint-Aignan holds 31,700 shares of State Street Corp directly. The sale was executed at prices ranging from $99.64 to $100.52 per share. The company, currently valued at approximately $29 billion, maintains a strong dividend track record with 55 consecutive years of payments and offers a 3% yield.
State Street Corp, a financial services and bank holding company, is headquartered in Boston, Massachusetts. The company trades at an attractive P/E ratio of 12, with analysts forecasting continued profitability for the upcoming year.
In other recent news, State Street Corporation has announced a new issuance of preferred stock, which is expected to generate approximately $743.1 million in net proceeds. This move is part of the company’s strategy to strengthen its capital structure. In terms of analyst opinions, Wolfe Research has upgraded State Street’s stock rating from Underperform to Peerperform, citing improved dynamics in its business lines and a stronger earnings growth trajectory. Conversely, Goldman Sachs has adjusted its price target for State Street to $105, maintaining a Buy rating due to the company’s promising outlook for 2025, particularly in servicing fees and management fees.
Truist Securities also revised its price target for State Street to $104, maintaining a Hold rating while noting that recent revenue projections fell short of expectations. Despite this, Truist observed positive adjustments in expense modeling, particularly in compensation. Meanwhile, CFRA upgraded State Street’s stock rating to Buy, though it reduced the price target to $113. The analyst highlighted an "enhanced opportunity with a lower share price" and increased the 2025 EPS estimate to $9.80, supported by strong revenue projections.
State Street’s fourth-quarter earnings report showed a robust performance, with an EPS of $2.60 on revenues of $3.4 billion, surpassing consensus estimates. The company also reported a notable increase in total deposits and assets under custody and administration. These developments reflect State Street’s ongoing efforts to navigate the current financial landscape and optimize its growth potential.
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