State Street Co. (NYSE:STT) EVP Sells $1,265,603.88 in Stock

State Street Co. (NYSE:STT) EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

State Street Price Performance

Shares of NYSE:STT opened at $89.86 on Wednesday. The firm has a market cap of $27.07 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The firm’s fifty day moving average is $86.37 and its 200-day moving average is $79.78. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.54 and a current ratio of 0.56. State Street Co. has a 52 week low of $62.78 and a 52 week high of $94.60.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the firm earned $1.93 earnings per share. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. Sell-side analysts predict that State Street Co. will post 8.36 earnings per share for the current year.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently bought and sold shares of STT. LSV Asset Management raised its stake in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in State Street by 541.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after buying an additional 634,422 shares during the last quarter. SG Americas Securities LLC raised its stake in State Street by 430.5% during the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock worth $56,841,000 after buying an additional 596,567 shares during the last quarter. Lazard Asset Management LLC raised its stake in State Street by 168.7% during the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after buying an additional 507,270 shares during the last quarter. Finally, Metropolis Capital Ltd raised its stake in State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after buying an additional 479,205 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on STT. The Goldman Sachs Group increased their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Evercore ISI raised their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company raised their target price on shares of State Street from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.39.

State Street Company Profile

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.