Investors Sell State Street Corp. (STT) on Strength (STT)
Traders sold shares of State Street Corp. (NYSE:STT) on strength during trading hours on Friday. $24.10 million flowed into the stock on the tick-up and $37.64 million flowed out of the stock on the tick-down, for a money net flow of $13.54 million out of the stock. Of all stocks tracked, State Street Corp. had the 0th highest net out-flow for the day. State Street Corp. traded up $0.03 for the day and closed at $69.07
Several brokerages have commented on STT. Citigroup Inc. upped their price target on State Street Corp. from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Deutsche Bank AG reaffirmed a “hold” rating on shares of State Street Corp. in a research report on Saturday, June 4th. Buckingham Research reaffirmed a “buy” rating on shares of State Street Corp. in a research report on Tuesday, June 21st. Jefferies Group reaffirmed a “buy” rating on shares of State Street Corp. in a research report on Friday, August 5th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $65.00 target price on shares of State Street Corp. in a research report on Monday, May 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.85.
The stock has a market cap of $26.94 billion and a P/E ratio of 14.09. The company has a 50-day moving average price of $63.64 and a 200-day moving average price of $59.82.
State Street Corp. (NYSE:STT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.20. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The business earned $2.57 billion during the quarter, compared to the consensus estimate of $2.65 billion. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect that State Street Corp. will post $5.02 earnings per share for the current year.
In other news, EVP Karen C. Keenan sold 7,500 shares of State Street Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $65.00, for a total value of $487,500.00. Following the transaction, the executive vice president now directly owns 58,383 shares in the company, valued at $3,794,895. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey N. Carp sold 5,000 shares of State Street Corp. stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in State Street Corp. stock. Victory Capital Management Inc. raised its position in State Street Corp. (NYSE:STT) by 59.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,212 shares of the company’s stock after buying an additional 5,664 shares during the period. Victory Capital Management Inc.’s holdings in State Street Corp. were worth $1,009,000 at the end of the most recent reporting period.
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
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