State Street (NYSE:STT) EVP W. Bradford Hu Sells 7,099 Shares of Company Stock

State Street Corporation (NYSE:STT) EVP W. Hu sold 7,099 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $168.63, for a total value of $1,197,104.37. Following the transaction, the executive vice president owned 42,695 shares of the company’s stock, valued at approximately $7,199,657.85. This trade represents a 14.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

State Street Stock Up 1.5%

STT opened at $173.39 on Thursday. The business has a 50 day moving average of $180.70 and a 200-day moving average of $158.35. The stock has a market capitalization of $47.63 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.78 and a beta of 1.41. The company has a current ratio of 0.57, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. State Street Corporation has a 1-year low of $111.63 and a 1-year high of $195.93.

State Street (NYSE:STT) last released its earnings results on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating the consensus estimate of $3.68 by $0.01. State Street had a net margin of 15.81% and a return on equity of 16.36%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the company earned $2.78 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that State Street Corporation will post 13.77 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on STT shares. Royal Bank Of Canada decreased their price objective on State Street from $196.00 to $175.00 and set a “sector perform” rating on the stock in a report on Thursday, October 15th. Barclays raised their target price on State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Citigroup decreased their price target on shares of State Street from $212.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Zacks Research lowered shares of State Street from a “strong-buy” rating to a “hold” rating in a report on Friday, September 18th. Finally, BMO Capital Markets dropped their price objective on shares of State Street from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $189.74.

Institutional Trading of State Street

Several institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC increased its position in State Street by 3.1% in the 1st quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock valued at $253,000 after acquiring an additional 60 shares in the last quarter. apricus wealth LLC lifted its position in shares of State Street by 0.3% during the third quarter. apricus wealth LLC now owns 23,155 shares of the asset manager’s stock worth $4,043,000 after purchasing an additional 60 shares in the last quarter. Genesee Capital Advisors LLC lifted its position in shares of State Street by 1.2% during the third quarter. Genesee Capital Advisors LLC now owns 5,601 shares of the asset manager’s stock worth $978,000 after purchasing an additional 68 shares in the last quarter. SYM FINANCIAL Corp grew its stake in shares of State Street by 2.6% during the third quarter. SYM FINANCIAL Corp now owns 2,909 shares of the asset manager’s stock valued at $508,000 after purchasing an additional 73 shares during the last quarter. Finally, Community Financial Services Group LLC grew its stake in shares of State Street by 40.7% during the third quarter. Community Financial Services Group LLC now owns 304 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

About State Street

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.