State Street Corporation (STT) CAO Elizabeth Schaefer Sells 170 Shares of Stock
State Street Corporation (NYSE:STT) CAO Elizabeth Schaefer sold 170 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $92.50, for a total value of $15,725.00. Following the completion of the sale, the chief accounting officer now directly owns 11,511 shares of the company’s stock, valued at $1,064,767.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of State Street Corporation (NYSE:STT) opened at $93.06 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $34,510.00, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.57 and a beta of 1.35. State Street Corporation has a 1 year low of $74.45 and a 1 year high of $99.99.
State Street Corporation (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. State Street Corporation had a return on equity of 13.03% and a net margin of 20.56%. State Street Corporation’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 EPS. equities research analysts predict that State Street Corporation will post 6.25 earnings per share for the current year.
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Large investors have recently made changes to their positions in the company. Zions Bancorporation increased its holdings in shares of State Street Corporation by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after acquiring an additional 795 shares during the period. Parallel Advisors LLC increased its holdings in shares of State Street Corporation by 18.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 172 shares during the period. Penserra Capital Management LLC purchased a new position in shares of State Street Corporation in the 2nd quarter valued at $107,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of State Street Corporation by 15.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,266 shares of the asset manager’s stock valued at $114,000 after acquiring an additional 168 shares during the period. Finally, Sabal Trust CO purchased a new position in shares of State Street Corporation in the 3rd quarter valued at $201,000. Institutional investors and hedge funds own 87.88% of the company’s stock.
Several research firms have recently issued reports on STT. Zacks Investment Research lowered State Street Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine lowered State Street Corporation from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Morgan Stanley raised their price objective on State Street Corporation from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Royal Bank Of Canada decreased their price target on State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 24th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $102.00 price target (up from $88.00) on shares of State Street Corporation in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. State Street Corporation has an average rating of “Hold” and a consensus price target of $96.47.
About State Street Corporation
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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