State Street Corporation (NYSE:STT) CAO Elizabeth Schaefer sold 170 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $92.50, for a total value of $15,725.00. Following the transaction, the chief accounting officer now owns 11,511 shares of the company’s stock, valued at approximately $1,064,767.50. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of State Street Corporation (NYSE STT) traded up $0.40 during trading hours on Thursday, reaching $96.92. 1,534,989 shares of the company traded hands, compared to its average volume of 1,967,670. State Street Corporation has a twelve month low of $74.45 and a twelve month high of $99.99. The firm has a market cap of $35,908.12, a P/E ratio of 15.95, a P/E/G ratio of 1.65 and a beta of 1.35. 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 (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. State Street had a net margin of 20.56% and a return on equity of 13.03%. State Street’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. equities research analysts anticipate that State Street Corporation will post 6.25 earnings per share for the current year.
STT has been the subject of a number of research reports. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley increased their price objective on shares of State Street from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods set a $93.00 price objective on shares of State Street and gave the stock a “hold” rating in a research note on Monday, August 28th. Finally, Royal Bank Of Canada reduced their price objective on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. State Street presently has an average rating of “Hold” and a consensus price target of $96.47.
A number of institutional investors have recently added to or reduced their stakes in STT. Zions Bancorporation raised its holdings in State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after acquiring an additional 795 shares during the period. Parallel Advisors LLC raised its holdings in State Street 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 acquiring an additional 172 shares during the period. Penserra Capital Management LLC bought a new position in State Street in the 2nd quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. raised its holdings in State Street 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 acquiring an additional 168 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in State Street by 8,873.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 16,421 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 16,238 shares during the period. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
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About State Street
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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