State Street Corporation (NYSE:STT - Get Free Report) EVP W. Hu sold 7,099 shares of the company's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $168.63, for a total value of $1,197,104.37. Following the transaction, the executive vice president directly owned 42,695 shares in the company, valued at $7,199,657.85. This trade represents a 14.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
State Street Price Performance
State Street stock opened at $173.39 on Thursday. The business's 50-day simple moving average is $180.70 and its 200 day simple moving average is $158.35. The company has a quick ratio of 0.59, a current ratio of 0.57 and a debt-to-equity ratio of 1.07. The stock has a market cap of $47.63 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.78 and a beta of 1.41. State Street Corporation has a 12-month low of $111.63 and a 12-month high of $195.93.
State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.01. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.03 billion. State Street had a return on equity of 16.36% and a net margin of 15.81%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.78 EPS. As a group, research analysts anticipate that State Street Corporation will post 13.77 earnings per share for the current year.
Institutional Investors Weigh In On State Street
Several large investors have recently bought and sold shares of the company. Western Wealth Management LLC increased its position in shares of State Street by 3.1% in the 1st quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager's stock valued at $253,000 after buying an additional 60 shares in the last quarter. apricus wealth LLC lifted its holdings in State Street by 0.3% during the third quarter. apricus wealth LLC now owns 23,155 shares of the asset manager's stock worth $4,043,000 after acquiring an additional 60 shares in the last quarter. Genesee Capital Advisors LLC lifted its holdings in State Street by 1.2% during the third quarter. Genesee Capital Advisors LLC now owns 5,601 shares of the asset manager's stock worth $978,000 after acquiring an additional 68 shares in the last quarter. SYM FINANCIAL Corp grew its stake in State Street by 2.6% in the third quarter. SYM FINANCIAL Corp now owns 2,909 shares of the asset manager's stock valued at $508,000 after acquiring an additional 73 shares during the period. Finally, Community Financial Services Group LLC grew its stake in State Street by 40.7% in the third quarter. Community Financial Services Group LLC now owns 304 shares of the asset manager's stock valued at $53,000 after acquiring an additional 88 shares during the period. Institutional investors own 87.44% of the company's stock.
Wall Street Analyst Weigh In
STT has been the subject of several analyst reports. BMO Capital Markets lowered their price target on shares of State Street from $200.00 to $185.00 and set an "outperform" rating for the company in a research report on Monday, October 19th. Royal Bank Of Canada reduced their price objective on shares of State Street from $196.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 15th. Capital One Financial set a $200.00 target price on shares of State Street in a report on Tuesday, October 6th. TD Cowen began coverage on shares of State Street in a research report on Thursday, October 8th. They set a "buy" rating and a $205.00 target price for the company. Finally, Barclays increased their price target on State Street from $165.00 to $200.00 and gave the company an "equal weight" rating in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $189.74.
View Our Latest Analysis on State Street
State Street Company Profile
(
Get Free Report)
State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.
The company's businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.
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