State Street Target of Unusually Large Options Trading (NYSE:STT)

State Street Corporation (NYSE:STT) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 32,672 call options on the company. This represents an increase of approximately 951% compared to the typical volume of 3,109 call options.

State Street Stock Performance

Shares of STT traded down $1.26 during trading hours on Wednesday, hitting $129.08. The company had a trading volume of 1,553,254 shares, compared to its average volume of 2,008,995. The business has a fifty day moving average of $121.19 and a 200-day moving average of $114.57. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The firm has a market cap of $36.05 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.22 and a beta of 1.44. State Street has a 12 month low of $72.81 and a 12 month high of $133.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. State Street’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 EPS. Equities analysts anticipate that State Street will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Friday, January 2nd will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, January 2nd. State Street’s dividend payout ratio (DPR) is presently 35.56%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STT. Evercore ISI upped their price target on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company increased their target price on shares of State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Keefe, Bruyette & Woods lifted their price target on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. BMO Capital Markets began coverage on shares of State Street in a research note on Friday, October 3rd. They set an “outperform” rating and a $130.00 price objective for the company. Finally, The Goldman Sachs Group lifted their target price on State Street from $109.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.27.

Insider Activity

In other news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $117.24, for a total value of $175,860.00. Following the sale, the executive vice president directly owned 38,626 shares in the company, valued at $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its holdings in State Street by 0.5% in the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 93 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of State Street by 38.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of State Street by 7.7% in the third quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after acquiring an additional 105 shares during the period. Security National Bank of SO Dak boosted its holdings in State Street by 0.5% in the second quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock valued at $2,289,000 after acquiring an additional 105 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in State Street by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 106 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.