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BOSTON—Joerg Ambrosius, Executive Vice President at State Street Corp (NYSE:STT), recently sold 2,880 shares of the company’s common stock. The transaction, dated February 19, 2025, was executed at a price of $100.07 per share, amounting to a total sale value of $288,201. The sale comes as the $28.5 billion financial services company’s stock trades near its 52-week high of $103, having gained over 25% in the past six months. Following this transaction, Ambrosius continues to hold 43,076 shares directly.
This sale comes as part of routine filings with the Securities and Exchange Commission, providing transparency into executive stock transactions at the financial services company headquartered in Boston.
In other recent news, State Street Corporation has announced a new series of preferred stock, Series K, aiming to raise approximately $743.1 million in net proceeds. This capital-raising move is part of State Street’s strategy to strengthen its financial position. Wolfe Research has upgraded State Street’s stock rating from Underperform to Peerperform, highlighting improved dynamics in the company’s business lines and a positive outlook for its earnings growth. Meanwhile, Goldman Sachs has adjusted its price target for State Street to $105, maintaining a Buy rating, and noted the company’s commitment to returning 80% of its earnings to shareholders. Truist Securities, however, has lowered its price target to $104 and revised its earnings per share (EPS) estimates downward, citing lower revenue projections and a higher share count. CFRA has upgraded State Street’s stock rating to Buy, despite reducing the price target to $113, reflecting optimism about the company’s growth prospects with a lower share price. State Street’s recent financial performance includes a Q4 EPS of $2.60 on revenues of $3.4 billion, surpassing consensus estimates. The company has also reported significant increases in assets under custody and administration, as well as assets under management, demonstrating robust growth in these areas.
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