State Street (NYSE:STT) Shares Gap Down - Time to Sell?

State Street Co. (NYSE:STT - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $100.49, but opened at $95.66. State Street shares last traded at $97.30, with a volume of 954,895 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. Morgan Stanley decreased their target price on State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and raised their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Finally, StockNews.com lowered shares of State Street from a "buy" rating to a "hold" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, State Street currently has a consensus rating of "Hold" and a consensus target price of $100.33.

State Street Stock Down 3.0 %

The stock has a 50-day moving average of $97.72 and a 200 day moving average of $89.52. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $28.58 billion, a P/E ratio of 15.40, a PEG ratio of 0.97 and a beta of 1.43.

State Street (NYSE:STT - Get Free Report) last issued its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. The company had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 EPS. Research analysts anticipate that State Street Co. will post 8.45 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.04 annualized dividend and a dividend yield of 3.12%. State Street's dividend payout ratio is currently 48.03%.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STT. Geode Capital Management LLC raised its position in State Street by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager's stock worth $632,111,000 after purchasing an additional 41,442 shares during the last quarter. FMR LLC raised its position in shares of State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager's stock worth $540,796,000 after acquiring an additional 833,679 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of State Street by 30.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager's stock worth $514,136,000 after acquiring an additional 1,354,560 shares during the period. Metropolis Capital Ltd boosted its holdings in State Street by 3.9% in the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager's stock valued at $379,209,000 after acquiring an additional 161,466 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager's stock valued at $306,116,000 after purchasing an additional 408,792 shares during the period. Institutional investors own 87.44% of the company's stock.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.