State Street Corporation (NYSE:STT) Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of State Street Corporation (NYSE:STT) traded up $0.28 during midday trading on Friday, hitting $92.53. The company had a trading volume of 1,078,880 shares, compared to its average volume of 1,680,000. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. The stock has a market cap of $34.31 billion, a PE ratio of 15.24, a P/E/G ratio of 1.58 and a beta of 1.35. State Street Corporation has a 1 year low of $69.73 and a 1 year high of $99.99.
State Street Corporation (NYSE:STT) last issued its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 EPS. analysts predict that State Street Corporation will post 6.25 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of STT. BlackRock Inc. lifted its stake in shares of State Street Corporation by 2,256.7% during the 1st quarter. BlackRock Inc. now owns 20,603,959 shares of the asset manager’s stock worth $1,640,284,000 after purchasing an additional 19,729,678 shares during the last quarter. KCG Holdings Inc. lifted its stake in shares of State Street Corporation by 6.3% during the 1st quarter. KCG Holdings Inc. now owns 19,997 shares of the asset manager’s stock worth $1,592,000 after purchasing an additional 1,188 shares during the last quarter. Amalgamated Bank lifted its stake in shares of State Street Corporation by 6.3% during the 1st quarter. Amalgamated Bank now owns 27,213 shares of the asset manager’s stock worth $2,166,000 after purchasing an additional 1,616 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of State Street Corporation by 2.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,149,664 shares of the asset manager’s stock worth $91,525,000 after purchasing an additional 31,370 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in State Street Corporation in the first quarter valued at about $155,000. Hedge funds and other institutional investors own 87.81% of the company’s stock.
Several equities analysts have commented on STT shares. Zacks Investment Research raised State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Tuesday, July 11th. Morgan Stanley upped their price objective on State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Buckingham Research reaffirmed a “buy” rating and issued a $107.00 price objective (up previously from $94.00) on shares of State Street Corporation in a research report on Monday, July 10th. Finally, Royal Bank Of Canada cut their price objective on State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. State Street Corporation has an average rating of “Hold” and a consensus price target of $97.07.
About State Street Corporation
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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