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

Key Points

• CEO Hanley Ronald O sold 14,554 State Street shares for approximately $2.40 million at an average price of $164.60, reducing his ownership by 6.32% to 215,905 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• State Street reported quarterly earnings of $3.69 per share, slightly exceeding analyst expectations, while revenue rose 12.9% year over year to $4 billion.
• Analysts maintain a “Moderate Buy” consensus, with 10 Buy ratings and six Holds and an average price target of $189.74; the stock recently traded at $167.69.

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

State Street Stock Performance

STT traded down $1.26 during midday trading on Thursday, hitting $167.69. 1,737,897 shares of the company traded hands, compared to its average volume of 2,138,942. The firm has a market capitalization of $46.07 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.77 and a beta of 1.41. The company's 50-day moving average is $182.94 and its 200 day moving average is $170.72. State Street Corporation has a 52 week low of $111.63 and a 52 week high of $195.93. The company has a quick ratio of 0.59, a current ratio of 0.57 and a debt-to-equity ratio of 1.07.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, topping analysts' consensus estimates of $3.68 by $0.01. The business 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 firm's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.78 EPS. On average, research analysts expect that State Street Corporation will post 13.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STT. Citigroup lowered their target price on State Street from $212.00 to $190.00 and set a "buy" rating on the stock in a report on Friday, October 16th. Royal Bank Of Canada lowered their price objective on shares of State Street from $196.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 15th. Capital One Financial set a $200.00 price objective on shares of State Street in a report on Tuesday, October 6th. TD Cowen initiated coverage on shares of State Street in a research report on Thursday, October 8th. They set a "buy" rating and a $205.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on shares of State Street from $168.00 to $194.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, State Street currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.74.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STT. Philadelphia Investment Partners LLC bought a new position in shares of State Street during the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc bought a new stake in State Street during the 2nd quarter worth approximately $28,000. Elevation Wealth Partners LLC lifted its holdings in State Street by 153.6% during the second quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager's stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Continuum Advisory LLC purchased a new position in State Street during the second quarter valued at approximately $30,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of State Street in the second quarter worth approximately $33,000. Institutional investors own 87.44% of the company's stock.

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.

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