New Big Money Means State Street Corporation (STT) Investors Could Reap Benefit

1,078 institutions hold shares in State Street Corporation (STT), with 1.67M shares held by insiders accounting for 0.48% while institutional investors hold 95.74% of the company’s shares. The shares outstanding are 352.97M, and float is at 351.49M with Short Float at 1.41%. Institutions hold 95.28% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 32.59 million shares valued at $1.93 billion. The investor’s holdings represent 9.24% of the STT Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 24.7 million shares valued at $1.8 billion to account for 7.00% of the shares outstanding. The other top investors are Dodge & Cox Inc which holds 20.46 million shares representing 5.80% and valued at over $1.21 billion, while Capital International Investors holds 5.22% of the shares totaling 18.4 million with a market value of $1.09 billion.

State Street Corporation (NYSE: STT) is -1.17% lower on its value in year-to-date trading and has touched a low of $42.10 and a high of $81.08 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The STT stock was last observed hovering at around $74.70 in the last trading session, with the day’s loss setting it -2.77% off its average median price target of $85.00 for the next 12 months. It is also 28.78% off the consensus price target high of $101.00 offered by 19 analysts, but current levels are 5.36% higher than the price target low of $76.00 for the same period.

Currently trading at $71.93, the stock is -1.78% and -2.49% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.68 million and changing -3.71% at the moment leaves the stock 7.70% off its SMA200. STT registered -7.65% loss for a year compared to 6-month gain of 2.10%. The firm has a 50-day simple moving average (SMA 50) of $74.64 and a 200-day simple moving average (SMA200) of $68.94.

The stock witnessed a -6.15% loss in the last 1 month and extending the period to 3 months gives it a 1.94%, and is -1.36% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.11% over the week and 2.52% over the month.

State Street Corporation (STT) has around 38979 employees, a market worth around $26.38B and $2.58B in sales. Current P/E ratio is 11.39 and Fwd P/E is 9.10. Profit margin for the company is 87.50%. Distance from 52-week low is 70.86% and -11.29% from its 52-week high. The company has generated returns on investments over the last 12 months (3.60%).

State Street Corporation (STT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for State Street Corporation (STT) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.40, where 9 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

State Street Corporation is expected to release its quarterly report on 04/28/2021 and quarterly earnings per share for the current quarter are estimated at $1.34 with sales reaching $2.79B over the same period.The EPS is expected to grow by 17.60% this year, but quarterly earnings will post -2.60% year-over-year. Quarterly sales are estimated to shrink -9.00% in year-over-year returns.

State Street Corporation (STT) Insider Activity

A total of 23 insider transactions have happened at State Street Corporation (STT) in the last six months, with sales accounting for 23 and purchases happening 0 times. The most recent transaction is an insider sale by Kuritzkes Andrew P, the company’s EVP and Chief Risk Officer. SEC filings show that Kuritzkes Andrew P sold 4,150 shares of the company’s common stock on Feb 16 at a price of $73.99 per share for a total of $0.31 million. Following the sale, the insider now owns 80413.0 shares.

State Street Corporation disclosed in a document filed with the SEC on Feb 16 that Erickson Andrew (Executive Vice President) sold a total of 630 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $73.99 per share for $46614.0. Following the transaction, the insider now directly holds 69997.0 shares of the STT stock.

Still, SEC filings show that on Nov 19, RICHARDS MICHAEL L (EVP and Chief Admin Officer) disposed off 400 shares at an average price of $68.59 for $27436.0. The insider now directly holds 18,304 shares of State Street Corporation (STT).

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State Street Corporation (STT): Who are the competitors?

The company’s main competitors (and peers) include The Bank of New York Mellon Corporation (BK) that is trading -7.66% down over the past 12 months. JPMorgan Chase & Co. (JPM) is 7.66% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.62% from the last report on Dec 30, 2020 to stand at a total of 5.02 million short shares sold with a short interest ratio of 2.13.

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