State Street Corp (NYSE:STT) EVP Joerg Ambrosius sold 2,500 shares of State Street stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.08, for a total value of $187,700.00. Following the sale, the executive vice president now owns 14,654 shares of the company’s stock, valued at approximately $1,100,222.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of STT traded down $1.77 during trading hours on Tuesday, hitting $73.61. The company had a trading volume of 2,957,205 shares, compared to its average volume of 2,797,578. The firm has a market cap of $27.31 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.56 and a beta of 1.56. The stock’s 50 day moving average price is $69.40 and its 200 day moving average price is $59.38. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.53. State Street Corp has a 52-week low of $48.62 and a 52-week high of $77.00.
State Street (NYSE:STT) last issued its earnings results on Friday, October 18th. The asset manager reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.11. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.86 billion. State Street had a return on equity of 11.34% and a net margin of 16.18%. State Street’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 EPS. On average, research analysts expect that State Street Corp will post 5.81 EPS for the current fiscal year.
Several research analysts recently weighed in on STT shares. ValuEngine upgraded shares of State Street from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley reissued a “sell” rating and issued a $71.00 price target (up previously from $66.00) on shares of State Street in a report on Monday, November 18th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $68.00 price objective (up from $60.00) on shares of State Street in a report on Monday, October 21st. Wells Fargo & Co set a $55.00 price objective on shares of State Street and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Evercore ISI began coverage on State Street in a research note on Wednesday, November 20th. They issued a “buy” rating and a $75.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.45.
Large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of State Street by 693.4% during the second quarter. CWM LLC now owns 484 shares of the asset manager’s stock worth $27,000 after buying an additional 423 shares during the period. Putnam FL Investment Management Co. purchased a new stake in shares of State Street during the 2nd quarter worth about $28,000. Massmutual Trust Co. FSB ADV acquired a new position in State Street during the 2nd quarter worth approximately $31,000. Reilly Financial Advisors LLC grew its stake in State Street by 91.7% during the 3rd quarter. Reilly Financial Advisors LLC now owns 627 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Vestor Capital LLC bought a new position in State Street during the 3rd quarter valued at $41,000. 90.09% of the stock is owned by hedge funds and other institutional investors.
About State Street
State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
Recommended Story: What is the yield curve?
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.