State Street Co. (NYSE:STT) EVP Sells $1,265,603.88 in Stock

State Street Co. (NYSE:STT) EVP John Plansky sold 13,859 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

State Street Price Performance

State Street stock opened at $91.45 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. State Street Co. has a one year low of $62.78 and a one year high of $94.60. The company has a market cap of $27.55 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The business has a fifty day moving average of $86.62 and a two-hundred day moving average of $79.86.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping 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 firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, analysts predict that State Street Co. will post 8.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On State Street

Several hedge funds have recently bought and sold shares of STT. Mirae Asset Global Investments Co. Ltd. grew its holdings in State Street by 43.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares during the last quarter. Allworth Financial LP grew its stake in State Street by 8.3% in the 3rd quarter. Allworth Financial LP now owns 2,425 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 185 shares during the last quarter. apricus wealth LLC raised its position in State Street by 1.3% during the third quarter. apricus wealth LLC now owns 41,852 shares of the asset manager’s stock worth $3,703,000 after acquiring an additional 547 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of State Street by 9.8% in the third quarter. Assenagon Asset Management S.A. now owns 10,661 shares of the asset manager’s stock valued at $943,000 after purchasing an additional 954 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of State Street by 15,129.6% in the third quarter. International Assets Investment Management LLC now owns 32,439 shares of the asset manager’s stock valued at $2,870,000 after purchasing an additional 32,226 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STT has been the subject of a number of research analyst reports. Wolfe Research reissued an “underperform” rating and issued a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Barclays raised their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Bank of America increased their target price on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley boosted their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.39.

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.