State Street Corporation (STT) Insider Sells $296,448.00 in Stock
State Street Corporation (NYSE:STT) insider Hannah M. Grove sold 3,200 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of State Street Corporation (STT) traded up $0.28 during trading hours on Friday, reaching $92.53. The company’s stock had a trading volume of 1,078,880 shares, compared to its average volume of 1,793,890. The firm has a market capitalization of $34,306.11, a PE ratio of 15.24 and a beta of 1.36.
State Street Corporation (NYSE:STT) last announced its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion for 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 business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.35 earnings per share. equities analysts anticipate that State Street Corporation will post 6.25 earnings per share for the current year.
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Large investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in State Street Corporation by 18.0% in the second quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock worth $105,000 after purchasing an additional 172 shares during the last quarter. Penserra Capital Management LLC purchased a new position in State Street Corporation in the second quarter worth about $107,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of State Street Corporation by 15.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock worth $114,000 after buying an additional 168 shares during the period. NEXT Financial Group Inc raised its stake in shares of State Street Corporation by 5.5% in the second quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock worth $130,000 after buying an additional 75 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of State Street Corporation by 2,677.8% in the first quarter. Salem Investment Counselors Inc. now owns 1,000 shares of the asset manager’s stock worth $131,000 after buying an additional 964 shares during the period. 87.81% of the stock is currently owned by institutional investors and hedge funds.
STT has been the topic of a number of recent research reports. Zacks Investment Research raised State Street Corporation from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Tuesday, July 11th. Morgan Stanley increased their target price on State Street Corporation from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Buckingham Research reissued a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of State Street Corporation in a research note on Monday, July 10th. Finally, Royal Bank Of Canada dropped 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $97.07.
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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