State Street Target of Unusually High Options Trading (STT)

State Street Corp (NYSE:STT) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 1,500 put options on the stock. This represents an increase of approximately 862% compared to the average daily volume of 156 put options.

Shares of State Street (NYSE STT) opened at $107.24 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. State Street has a 52 week low of $74.45 and a 52 week high of $107.57. The company has a market capitalization of $39,230.00, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.49 and a beta of 1.35.

State Street (NYSE:STT) last announced its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. State Street had a return on equity of 13.03% and a net margin of 20.56%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. analysts anticipate that State Street will post 6.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.57%. State Street’s dividend payout ratio (DPR) is presently 29.07%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup upgraded State Street from a “neutral” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Wednesday. Jefferies Group restated a “hold” rating and set a $107.00 target price on shares of State Street in a research report on Tuesday. Vining Sparks restated a “buy” rating and set a $120.00 target price on shares of State Street in a research report on Monday, January 8th. Finally, Barclays boosted their target price on State Street from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $101.13.

In other State Street news, insider Hannah M. Grove sold 3,200 shares of State Street stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph L. Hooley sold 25,000 shares of State Street stock in a transaction on 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 quarter, insiders sold 28,724 shares of company stock valued at $2,659,741. Corporate insiders own 0.71% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of State Street by 1.9% during the second quarter. Vanguard Group Inc. now owns 24,022,695 shares of the asset manager’s stock worth $2,155,556,000 after purchasing an additional 448,658 shares during the period. FMR LLC grew its stake in shares of State Street by 10.8% during the second quarter. FMR LLC now owns 19,988,755 shares of the asset manager’s stock worth $1,793,591,000 after purchasing an additional 1,940,536 shares during the period. Longview Partners Guernsey LTD grew its stake in shares of State Street by 6.5% during the third quarter. Longview Partners Guernsey LTD now owns 8,062,726 shares of the asset manager’s stock worth $770,313,000 after purchasing an additional 493,244 shares during the period. Capital International Investors grew its stake in shares of State Street by 63.3% during the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after purchasing an additional 2,237,595 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in shares of State Street by 44.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock worth $427,133,000 after purchasing an additional 1,383,249 shares during the period. 88.13% of the stock is owned by institutional investors and hedge funds.

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State Street Company Profile

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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