Insider Selling: State Street Co. (NYSE:STT) EVP Sells 12,500 Shares of Stock

State Street Co. (NYSE:STT) EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction on 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 $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

State Street Price Performance

Shares of State Street stock traded up $0.02 during trading on Tuesday, hitting $98.81. 2,184,606 shares of the stock traded hands, compared to its average volume of 2,202,528. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.20 and a beta of 1.46. The firm’s fifty day moving average is $91.56 and its 200-day moving average is $83.17. State Street Co. has a 52 week low of $69.56 and a 52 week high of $99.50.

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

Institutional Investors Weigh In On State Street

Several institutional investors have recently bought and sold shares of the stock. Peapack Gladstone Financial Corp boosted its holdings in State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after acquiring an additional 103 shares during the period. Synovus Financial Corp boosted its holdings in State Street by 10.3% during the 3rd quarter. Synovus Financial Corp now owns 13,321 shares of the asset manager’s stock valued at $1,179,000 after acquiring an additional 1,247 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in State Street during the 3rd quarter valued at about $1,125,000. Sanctuary Advisors LLC lifted its holdings in State Street by 6.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,700 shares of the asset manager’s stock worth $1,433,000 after buying an additional 860 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of State Street by 1.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 310,909 shares of the asset manager’s stock valued at $27,506,000 after purchasing an additional 4,936 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on STT shares. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI upped their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays increased their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price objective on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street has an average rating of “Hold” and an average 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.