State Street Corp (STT) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Sep 6, 2016.
On the company’s financial health, State Street Corp reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.26. The company had revenue of $2573.00 million for the quarter, compared to analysts expectations of $2649.34 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.36 EPS.
State Street Corp closed down -0.12 points or -0.17% at $70.12 with 12,23,850 shares getting traded on Thursday. Post opening the session at $70.54, the shares hit an intraday low of $69.38 and an intraday high of $70.84 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Aug 31, 2016, Karen C Keenan (EVP and Chief Admin. Officer) sold 7,500 shares at $70.00 per share price. According to the SEC, on Aug 17, 2016, Sean P Newth (SVP, CAO and Controller) sold 54 shares at $68.64 per share price. On Jul 29, 2016, Jeffrey N Carp (EVP, CLO and Secretary) sold 40,196 shares at $61.83 per share price, according to the Form-4 filing with the securities and exchange commission.
State Street Corporation (State Street) the parent company is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company through its subsidiary State Street Bank provides financial services and products to institutional investors across the world. Its clients include mutual funds collective investment funds and other investment pools corporate and public retirement plans insurance companies foundations endowments and investment managers. It has two lines of business: Investment Servicing and Investment Management. The Investment Servicing line of business performs core custody and related value-added functions such as providing institutional investors with clearing payment and settlement services. It provides Investment Management services through State Street Global Advisors (SSGA) .SSGA provides an array of investment management investment research and investment advisory services.