What’s Next for State Street Corp After Today’s Bearish Options Activity?

 What's Next for State Street Corp After Today's Bearish Options Activity?

In today’s session State Street Corp (STT) recorded an unusually high (376) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious STT decrease. With 376 contracts traded and 3444 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: STT170120P00072500 closed last at: $3.4 or 4.6% up. About 477,501 shares traded hands. State Street Corp (NYSE:STT) has risen 34.25% since April 8, 2016 and is uptrending. It has outperformed by 28.60% the S&P500.

State Street Corp (NYSE:STT) Ratings Coverage

Out of 10 analysts covering State Street Corporation (NYSE:STT), 3 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 30% are positive. $88 is the highest target while $52 is the lowest. The $74 average target is -4.50% below today’s ($77.49) stock price. State Street Corporation has been the topic of 31 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank with “Hold” on Friday, May 27. The rating was maintained by Deutsche Bank on Friday, January 8 with “Hold”. The stock of State Street Corp (NYSE:STT) has “Hold” rating given on Wednesday, October 5 by Deutsche Bank. The company was maintained on Thursday, January 28 by RBC Capital Markets. The firm has “Hold” rating by Deutsche Bank given on Friday, September 9. The rating was maintained by Argus Research on Monday, October 26 with “Buy”. Wood downgraded the shares of STT in a report on Monday, March 28 to “Underperform” rating. The stock has “Overweight” rating given by Barclays Capital on Wednesday, January 13. The stock of State Street Corp (NYSE:STT) earned “Hold” rating by Standpoint Research on Sunday, August 9. The firm earned “Overweight” rating on Friday, October 9 by Barclays Capital.

According to Zacks Investment Research, “State Street Corporation is the world’s leading specialist in providing sophisticated global investors with investment servicing, investment management, investment research and trading services. Customers include mutual funds and other collective investment funds, corporate and public pension funds, corporations, unions and not-for-profit organizations in and outside of the United States.”

Insitutional Activity: The institutional sentiment increased to 0.92 in 2016 Q2. Its up 0.18, from 0.74 in 2016Q1. The ratio increased, as 39 funds sold all State Street Corp shares owned while 250 reduced positions. 71 funds bought stakes while 194 increased positions. They now own 328.46 million shares or 1.10% less from 332.10 million shares in 2016Q1.
Culbertson A N & has 32,801 shares for 0.65% of their US portfolio. The New York-based Clinton Gru has invested 0.37% in State Street Corp (NYSE:STT). Gamco Et Al accumulated 0.57% or 1.61 million shares. Clearbridge Investments Ltd Liability Com accumulated 0.09% or 1.42 million shares. Shelton Cap Mgmt holds 0.08% or 17,693 shares in its portfolio. Franklin Resources accumulated 0.02% or 683,841 shares. Dodge & Cox holds 4,900 shares or 0% of its portfolio. Metropolitan Life Insur Company Ny last reported 0.08% of its portfolio in the stock. The California-based Natl Planning Corp has invested 0.03% in State Street Corp (NYSE:STT). The California-based Apriem Advsr has invested 0.01% in State Street Corp (NYSE:STT). Stonebridge Management Inc has 46,630 shares for 1.15% of their US portfolio. The Quebec – Canada-based Addenda Capital has invested 0.4% in State Street Corp (NYSE:STT). Professional Advisory Services, a Florida-based fund reported 173,033 shares. First Quadrant Limited Partnership Ca, a California-based fund reported 11,800 shares. Mycio Wealth Limited Co holds 91 shares or 0% of its portfolio.

Insider Transactions: Since July 1, 2016, the stock had 0 buys, and 8 insider sales for $7.09 million net activity. The insider Keenan Karen C sold $57,510. Shares for $3,707 were sold by Newth Sean P. CARP JEFFREY N had sold 40,196 shares worth $2.48M on Wednesday, July 27.

State Street Corporation, the parent company, is a financial holding company. The company has a market cap of $31.25 billion. The parent firm provides financial and managerial support to its legal and operating subsidiaries. It has a 15.94 P/E ratio. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

STT Company Profile

State Street Corporation, incorporated on October 16, 1969, the parent company, is a financial holding company. The parent firm provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world. The Company’s clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers. The Firm has approximately two lines of businesses: Investment Servicing and Investment Management.

More recent State Street Corp (NYSE:STT) news were published by: Wsj.com which released: “State Street Profit Declines” on October 26, 2016. Also Reuters.com published the news titled: “Fitch: State Street Corp.’s 3Q16 Earnings Satisfactory” on October 26, 2016. Reuters.com‘s news article titled: “MOVES- Morgan Stanley, BNY Mellon Investment, Pimco, State Street Corp” with publication date: October 17, 2016 was also an interesting one.

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