State Street (NYSE:STT) CEO Hanley Ronald O Sells 14,554 Shares of Stock

State Street Corporation (NYSE:STT) CEO Hanley Ronald O sold 14,554 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $164.60, for a total transaction of $2,395,588.40. Following the completion of the sale, the chief executive officer directly owned 215,905 shares in the company, valued at approximately $35,537,963. This trade represents a 6.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

State Street Price Performance

STT stock opened at $167.69 on Friday. The firm’s 50-day moving average price is $182.49 and its two-hundred day moving average price is $170.99. State Street Corporation has a 12-month low of $111.63 and a 12-month high of $195.93. The stock has a market capitalization of $46.07 billion, a price-to-earnings ratio of 12.85, a PEG 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 (NYSE:STT) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating the consensus estimate of $3.68 by $0.01. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.36%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.78 earnings per share. As a group, equities analysts predict that State Street Corporation will post 13.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets dropped their price objective on State Street from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Monday. Morgan Stanley lifted their price objective on State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Barclays boosted their target price on State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Bank of America upped their target price on State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Finally, Citigroup dropped their price target on State Street from $212.00 to $190.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, State Street currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.74.

Institutional Investors Weigh In On State Street

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of State Street in the 2nd quarter worth about $4,139,389,000. State Street Corp lifted its position in State Street by 1.2% during the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager’s stock valued at $2,296,098,000 after acquiring an additional 163,362 shares during the period. Regents of The University of California lifted its position in State Street by 15.6% during the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after acquiring an additional 1,358,923 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in State Street by 4.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,962,274 shares of the asset manager’s stock worth $502,402,000 after acquiring an additional 137,798 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in State Street by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,101,952 shares of the asset manager’s stock worth $392,539,000 after acquiring an additional 51,754 shares in the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.