State Street Corporation (NYSE:STT) Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.60, for a total transaction of $2,315,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
State Street Corporation (NYSE:STT) opened at $90.79 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. State Street Corporation has a fifty-two week low of $74.45 and a fifty-two week high of $99.99. The stock has a market cap of $33,616.35, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.55 and a beta of 1.36.
State Street Corporation (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company posted $1.35 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. analysts forecast that State Street Corporation will post 6.25 EPS for the current year.
A number of research analysts recently commented on STT shares. Zacks Investment Research downgraded shares of State Street Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Morgan Stanley increased their price objective on shares of State Street Corporation from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Royal Bank Of Canada reduced their price objective on shares of State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods set a $93.00 target price on shares of State Street Corporation and gave the stock a “hold” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. State Street Corporation has an average rating of “Hold” and an average price target of $97.07.
Hedge funds have recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its stake in shares of State Street Corporation by 26.5% during the third quarter. Raymond James Trust N.A. now owns 4,112 shares of the asset manager’s stock worth $393,000 after purchasing an additional 862 shares in the last quarter. Commonwealth Bank of Australia boosted its position in State Street Corporation by 5.8% during the second quarter. Commonwealth Bank of Australia now owns 61,202 shares of the asset manager’s stock worth $5,490,000 after acquiring an additional 3,365 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in State Street Corporation during the second quarter worth about $4,730,000. Boston Advisors LLC acquired a new position in State Street Corporation during the third quarter worth about $13,279,000. Finally, Pennsylvania Trust Co boosted its position in State Street Corporation by 6.5% during the second quarter. Pennsylvania Trust Co now owns 3,948 shares of the asset manager’s stock worth $361,000 after acquiring an additional 240 shares during the last quarter. 88.15% of the stock is owned by institutional investors and hedge funds.
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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