State Street Co. (NYSE:STT) EVP Sells $1,224,625.00 in Stock

State Street Co. (NYSE:STT) EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

State Street Trading Down 0.0 %

Shares of State Street stock opened at $98.79 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $92.22 and a 200 day simple moving average of $83.54. State Street Co. has a 12-month low of $69.58 and a 12-month high of $99.50. The company has a market capitalization of $28.96 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.46.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, sell-side analysts anticipate that State Street Co. will post 8.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On State Street

Several hedge funds have recently modified their holdings of STT. LRI Investments LLC bought a new stake in State Street during the first quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in State Street during the second quarter valued at about $27,000. Coastline Trust Co bought a new position in State Street during the third quarter valued at about $44,000. Versant Capital Management Inc raised its position in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in State Street in the third quarter worth about $54,000. Institutional investors own 87.44% of the company’s stock.

Wall Street Analyst Weigh In

STT has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Barclays increased 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.11.

About State Street

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.