Insider Selling: State Street Corporation (STT) Insider Sells $32,568.00 in Stock

State Street Corporation (NYSE:STT) insider Andrew Erickson sold 354 shares of State Street Corporation stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of State Street Corporation (STT) opened at $92.31 on Monday. 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 $34,231.93, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.57 and a beta of 1.36. 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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Several institutional investors and hedge funds have recently added to or reduced their stakes in STT. Arvest Bank Trust Division raised its position in shares of State Street Corporation by 1.1% in the 2nd quarter. Arvest Bank Trust Division now owns 197,863 shares of the asset manager’s stock worth $17,754,000 after acquiring an additional 2,084 shares in the last quarter. NEXT Financial Group Inc increased its position in State Street Corporation by 5.5% during the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the asset manager’s stock valued at $130,000 after buying an additional 75 shares in the last quarter. State of Alaska Department of Revenue increased its position in State Street Corporation by 137.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,678 shares of the asset manager’s stock valued at $330,000 after buying an additional 2,130 shares in the last quarter. National Pension Service increased its position in State Street Corporation by 6.4% during the 2nd quarter. National Pension Service now owns 338,125 shares of the asset manager’s stock valued at $30,310,000 after buying an additional 20,461 shares in the last quarter. Finally, Baldwin Brothers Inc. MA acquired a new position in State Street Corporation during the 2nd quarter valued at about $557,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on STT. Wells Fargo & Company began coverage on State Street Corporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $115.00 price target for the company. Zacks Investment Research cut State Street Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada cut their price target on State Street Corporation from $104.00 to $95.00 and set a “sector perform” rating for the company in a report on Tuesday, October 24th. Jefferies Group LLC restated a “hold” rating and set a $100.00 price target on shares of State Street Corporation in a report on Friday, September 15th. Finally, ValuEngine cut State Street Corporation from a “buy” rating to a “hold” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price 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.

Insider Buying and Selling by Quarter for State Street Corporation (NYSE:STT)

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