State Street Corp (NYSE:STT) EVP Joerg Ambrosius sold 2,500 shares of State Street stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.08, for a total value of $187,700.00. Following the completion of the transaction, the executive vice president now owns 14,654 shares in the company, valued at $1,100,222.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE STT traded down $1.77 during trading on Tuesday, reaching $73.61. 2,957,205 shares of the company traded hands, compared to its average volume of 2,797,578. State Street Corp has a 12-month low of $48.62 and a 12-month high of $77.00. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $69.40 and its 200 day simple moving average is $59.38. The stock has a market cap of $27.31 billion, a P/E ratio of 10.20, a PEG ratio of 1.56 and a beta of 1.56.
State Street (NYSE:STT) last released 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. State Street had a return on equity of 11.34% and a net margin of 16.18%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the company posted $1.87 EPS. State Street’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts expect that State Street Corp will post 5.81 EPS for the current year.
Large investors have recently bought and sold shares of the business. Longview Partners Guernsey LTD grew its holdings in State Street by 34.2% during the 2nd quarter. Longview Partners Guernsey LTD now owns 20,398,955 shares of the asset manager’s stock worth $1,143,565,000 after acquiring an additional 5,203,360 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of State Street by 24.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,962,313 shares of the asset manager’s stock worth $670,607,000 after purchasing an additional 2,323,171 shares in the last quarter. Nuveen Asset Management LLC grew its stake in State Street by 21,541.7% in the second quarter. Nuveen Asset Management LLC now owns 2,087,558 shares of the asset manager’s stock valued at $117,029,000 after purchasing an additional 2,077,912 shares in the last quarter. BlackRock Inc. increased its position in State Street by 7.0% during the second quarter. BlackRock Inc. now owns 30,035,664 shares of the asset manager’s stock worth $1,683,799,000 after buying an additional 1,975,332 shares during the last quarter. Finally, Yacktman Asset Management LP grew its stake in State Street by 63.0% in the 3rd quarter. Yacktman Asset Management LP now owns 4,298,033 shares of the asset manager’s stock valued at $254,401,000 after buying an additional 1,661,988 shares during the last quarter. 90.09% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Wells Fargo & Co set a $55.00 target price on State Street and gave the company a “hold” rating in a research note on Friday, August 16th. ValuEngine raised State Street from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James upped their price target on State Street from $69.00 to $77.00 and gave the stock a “strong-buy” rating in a report on Monday, October 21st. They noted that the move was a valuation call. Deutsche Bank lifted their price objective on State Street from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Buckingham Research reissued a “buy” rating and set a $84.00 price objective (up previously from $73.00) on shares of State Street in a report on Monday, November 18th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $71.45.
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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