State Street Corporation (STT) Insider Andrew Erickson Sells 354 Shares
State Street Corporation (NYSE:STT) insider Andrew Erickson sold 354 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $92.00, for a total transaction of $32,568.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of State Street Corporation (NYSE STT) traded down $0.09 during trading hours on Friday, hitting $92.31. 1,899,423 shares of the stock were exchanged, compared to its average volume of 1,972,659. The stock has a market capitalization of $34,270.00, a price-to-earnings ratio of 15.04, a PEG ratio of 1.56 and a beta of 1.35. State Street Corporation has a fifty-two week low of $74.45 and a fifty-two week high of $99.99. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61.
State Street Corporation (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. State Street Corporation had a net margin of 20.56% and a return on equity of 13.03%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. sell-side analysts expect that State Street Corporation will post 6.25 EPS for the current fiscal year.
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Several research analysts have commented on STT shares. Zacks Investment Research raised shares of State Street Corporation from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Thursday, July 27th. Barclays PLC increased their price objective on shares of State Street Corporation from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Wells Fargo & Company started coverage on shares of State Street Corporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods set a $93.00 price objective on shares of State Street Corporation and gave the company a “hold” rating in a report on Monday, August 28th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $100.00 price objective on shares of State Street Corporation in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $96.47.
Several large investors have recently modified their holdings of the company. Raymond James Trust N.A. increased its holdings in State Street Corporation by 0.5% during the second quarter. Raymond James Trust N.A. now owns 3,250 shares of the asset manager’s stock valued at $291,000 after buying an additional 17 shares during the period. Klingenstein Fields & Co. LLC increased its holdings in State Street Corporation by 0.9% during the second quarter. Klingenstein Fields & Co. LLC now owns 2,687 shares of the asset manager’s stock valued at $241,000 after buying an additional 25 shares during the period. Stratos Wealth Partners LTD. increased its holdings in State Street Corporation by 0.4% during the second quarter. Stratos Wealth Partners LTD. now owns 9,117 shares of the asset manager’s stock valued at $818,000 after buying an additional 40 shares during the period. NEXT Financial Group Inc increased its holdings in State Street Corporation by 5.5% during the second quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after buying an additional 75 shares during the period. Finally, Northern Capital Management LLC increased its holdings in State Street Corporation by 0.7% during the second quarter. Northern Capital Management LLC now owns 10,770 shares of the asset manager’s stock valued at $966,000 after buying an additional 75 shares during the period. 88.15% of the stock is currently owned by institutional investors and hedge funds.
State Street Corporation Company Profile
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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