State Street Corporation (NYSE:STT) insider Andrew Erickson sold 354 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of State Street Corporation (NYSE STT) traded down $0.09 during trading hours on Friday, hitting $92.31. The stock had a trading volume of 1,899,423 shares, compared to its average volume of 1,807,295. State Street Corporation has a one year low of $74.45 and a one year high of $99.99. The firm has a market cap of $34,231.96, a P/E ratio of 15.21, a PEG ratio of 1.57 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 (NYSE:STT) last released its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 earnings per share. research analysts expect that State Street Corporation will post 6.25 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on STT shares. Zacks Investment Research raised State Street Corporation from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Thursday, July 27th. Barclays PLC upped their target price on State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Wells Fargo & Company started coverage on State Street Corporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 target price for the company. Keefe, Bruyette & Woods set a $93.00 target price on State Street Corporation and gave the company a “hold” rating in a report on Monday, August 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $100.00 target price on shares of State Street Corporation in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $96.47.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation lifted its holdings in shares of State Street Corporation by 318.0% in the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 795 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of State Street Corporation by 18.0% in the second quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 172 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of State Street Corporation in the second quarter valued at $107,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of State Street Corporation by 15.3% in the second 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. Finally, NEXT Financial Group Inc lifted its holdings in shares of State Street Corporation by 5.5% in the second 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. Institutional investors own 88.15% of the company’s stock.
State Street Corporation 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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