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 firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

State Street Price Performance

Shares of NYSE:STT opened at $98.80 on Wednesday. The company has a market cap of $28.96 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.46. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street Co. has a 52 week low of $69.56 and a 52 week high of $99.50. The business has a fifty day simple moving average of $91.80 and a 200-day simple moving average of $83.33.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities research analysts forecast that State Street Co. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on STT. Deutsche Bank Aktiengesellschaft lifted 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. Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays lifted 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. StockNews.com cut State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.11.

Institutional Investors Weigh In On State Street

A number of institutional investors have recently added to or reduced their stakes in STT. Advisors Asset Management Inc. grew its position in State Street by 35.7% during the first quarter. Advisors Asset Management Inc. now owns 16,253 shares of the asset manager’s stock valued at $1,257,000 after acquiring an additional 4,276 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of State Street by 22.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 576,333 shares of the asset manager’s stock worth $44,563,000 after purchasing an additional 105,710 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of State Street during the first quarter worth about $908,000. Tidal Investments LLC lifted its stake in shares of State Street by 6.7% during the first quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock worth $552,000 after purchasing an additional 448 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of State Street by 51.2% during the first quarter. Comerica Bank now owns 151,865 shares of the asset manager’s stock worth $11,742,000 after purchasing an additional 51,404 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.