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 shares were sold at an average price of $168.63, for a total value of $1,197,104.37. Following the completion of the transaction, the executive vice president directly owned 42,695 shares of the company’s stock, valued at $7,199,657.85. This trade represents a 14.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

State Street Stock Up 1.5%

Shares of State Street stock traded up $2.50 during trading hours on Wednesday, hitting $173.39. The company had a trading volume of 2,242,254 shares, compared to its average volume of 2,130,433. The company’s 50-day moving average is $181.07 and its two-hundred day moving average is $158.14. State Street Corporation has a twelve month low of $111.63 and a twelve month high of $195.93. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.57 and a quick ratio of 0.59. The company has a market cap of $47.63 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.41.

State Street (NYSE:STT) last posted its earnings results on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm posted $2.78 EPS. The company’s revenue was up 12.9% on a year-over-year basis. Analysts anticipate that State Street Corporation will post 13.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STT. Wells Fargo & Company raised their price objective on State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. BMO Capital Markets reduced their target price on State Street from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Monday, October 19th. 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 research report on Tuesday, July 7th. The Goldman Sachs Group raised their price target on State Street from $168.00 to $194.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Capital One Financial set a $200.00 price target on State Street in a research report on Tuesday, October 6th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of State Street in the second quarter valued at about $4,139,389,000. State Street Corp boosted its stake in shares of State Street by 1.2% during the second quarter. State Street Corp now owns 13,538,311 shares of the asset manager’s stock worth $2,296,098,000 after buying an additional 163,362 shares during the period. Regents of The University of California grew its holdings in shares of State Street by 15.6% during the first quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock worth $1,273,841,000 after buying an additional 1,358,923 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 51,754 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 buying an additional 137,798 shares during 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.