State Street Co. (NYSE:STT) EVP Sells $1,224,625.00 in Stock

State Street Co. (NYSE:STT) EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

State Street Stock Performance

Shares of STT stock opened at $98.79 on Friday. The company has a market capitalization of $28.96 billion, a P/E ratio of 15.61, a PEG ratio of 1.22 and a beta of 1.46. State Street Co. has a fifty-two week low of $69.58 and a fifty-two week high of $99.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $92.22 and a two-hundred day moving average price of $83.54.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business posted $1.93 EPS. The firm’s revenue was up 21.1% compared to the same quarter last year. Analysts expect that State Street Co. will post 8.42 earnings per share for the current year.

Institutional Trading of State Street

Several large investors have recently modified their holdings of STT. Cetera Investment Advisers lifted its holdings in State Street by 127.8% in the 1st quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock worth $3,433,000 after buying an additional 24,906 shares during the period. Bayesian Capital Management LP bought a new position in shares of State Street during the first quarter valued at approximately $908,000. KBC Group NV lifted its stake in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after acquiring an additional 12,707 shares during the period. Asset Management One Co. Ltd. boosted its holdings in State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after acquiring an additional 20,183 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its position in State Street by 39.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after purchasing an additional 41,180 shares during the period. 87.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STT. The Goldman Sachs Group upped their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley upped their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays lifted their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.11.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.