State Street Corporation (NYSE:STT) – Equities researchers at Jefferies Group dropped their Q4 2017 EPS estimates for State Street Corporation in a research note issued on Monday, according to Zacks Investment Research. Jefferies Group analyst K. Usdin now forecasts that the asset manager will earn $1.65 per share for the quarter, down from their previous estimate of $1.76. Jefferies Group currently has a “Hold” rating and a $100.00 target price on the stock. Jefferies Group also issued estimates for State Street Corporation’s FY2018 earnings at $6.85 EPS.
State Street Corporation (NYSE:STT) last posted its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.10. State Street Corporation had a net margin of 20.56% and a return on equity of 13.03%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm posted $1.35 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis.
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STT has been the subject of a number of other reports. Wells Fargo & Company started coverage on shares of State Street Corporation in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $115.00 target price for the company. Barclays PLC lifted their target price on shares of State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, August 30th. ValuEngine lowered shares of State Street Corporation from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $102.00 price target (up previously from $88.00) on shares of State Street Corporation in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. State Street Corporation presently has a consensus rating of “Hold” and a consensus price target of $97.07.
Shares of State Street Corporation (NYSE STT) opened at $90.65 on Thursday. The firm has a market cap of $33,660.85, a PE ratio of 14.95, a PEG ratio of 1.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.48 and a quick ratio of 0.48. State Street Corporation has a 1-year low of $74.45 and a 1-year high of $99.99.
In related news, insider Andrew Erickson sold 353 shares of State Street Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $93.01, for a total transaction of $32,832.53. Following the completion of the sale, the insider now owns 21,170 shares in the company, valued at approximately $1,969,021.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Joseph L. Hooley sold 25,000 shares of State Street Corporation stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 28,814 shares of company stock valued at $2,668,773. 0.71% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of STT. Parallel Advisors LLC grew its holdings in State Street Corporation by 18.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after buying an additional 172 shares during the period. Penserra Capital Management LLC acquired a new position in shares of State Street Corporation in the 2nd quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of State Street Corporation by 15.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 168 shares in the last quarter. NEXT Financial Group Inc lifted its stake in shares of State Street Corporation by 5.5% in the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 75 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in shares of State Street Corporation by 2,677.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 964 shares in the last quarter. Institutional investors own 87.85% of the company’s stock.
About State Street Corporation
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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