State Street Corp (NYSE:STT) EVP Jeffrey N. Carp sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $63.22, for a total transaction of $1,580,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
NYSE:STT traded down $0.19 during trading hours on Thursday, reaching $61.62. The company’s stock had a trading volume of 2,489,107 shares, compared to its average volume of 2,555,865. The stock has a market capitalization of $23.58 billion, a PE ratio of 8.53, a P/E/G ratio of 0.92 and a beta of 1.37. State Street Corp has a one year low of $57.87 and a one year high of $101.81. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.52.
State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. State Street had a net margin of 18.77% and a return on equity of 13.44%. State Street’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. On average, sell-side analysts forecast that State Street Corp will post 6.45 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Pearl River Capital LLC acquired a new stake in State Street in the 4th quarter valued at $25,000. Certified Advisory Corp boosted its holdings in State Street by 125.0% in the fourth quarter. Certified Advisory Corp now owns 450 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new position in State Street in the first quarter valued at $28,000. Magellan Asset Management Ltd boosted its holdings in State Street by 80.1% in the fourth quarter. Magellan Asset Management Ltd now owns 526 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 234 shares during the last quarter. Finally, NuWave Investment Management LLC boosted its holdings in State Street by 3,180.0% in the first quarter. NuWave Investment Management LLC now owns 492 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.
Several equities analysts have recently commented on STT shares. Wells Fargo & Co cut shares of State Street from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 22nd. Goldman Sachs Group cut shares of State Street from a “buy” rating to a “neutral” rating and set a $71.30 price target on the stock. in a report on Tuesday, January 22nd. Deutsche Bank cut shares of State Street from a “buy” rating to a “hold” rating and set a $69.95 price target on the stock. in a report on Thursday, March 14th. Credit Suisse Group lowered their price target on shares of State Street from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, January 22nd. Finally, Zacks Investment Research upgraded shares of State Street from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $82.72.
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State Street Company Profile
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.
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