State Street Co. (NYSE:STT) EVP John Plansky Sells 13,859 Shares

by · The Markets Daily

State Street Co. (NYSE:STT – Get Free Report) EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

State Street Stock Performance

NYSE:STT opened at $91.45 on Thursday. The firm’s fifty day simple moving average is $86.62 and its 200 day simple moving average is $79.86. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 0.91. State Street Co. has a twelve month low of $62.78 and a twelve month high of $94.60. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.17 and a beta of 1.48.

State Street (NYSE:STT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts expect that State Street Co. will post 8.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STT. Citigroup upped their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Barclays increased their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.39.

Check Out Our Latest Research Report on STT

Institutional Trading of State Street

Several large investors have recently bought and sold shares of STT. Capital International Investors boosted its stake in shares of State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after purchasing an additional 31,314 shares during the period. LSV Asset Management boosted its position in State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd increased its position in shares of State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares during the last quarter. Cooke & Bieler LP lifted its stake in shares of State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock worth $262,795,000 after acquiring an additional 105,222 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of State Street by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock worth $224,466,000 after acquiring an additional 259,729 shares in the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

About State Street

(Get Free Report)

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.

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