State Street (NYSE:STT) Given New $106.00 Price Target at Evercore ISI

State Street (NYSE:STT) had its price objective cut by research analysts at Evercore ISI from $109.00 to $106.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price target points to a potential upside of 19.21% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on STT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $103.00 price objective (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Morgan Stanley cut their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Truist Financial lowered their price target on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $102.33.

State Street Trading Up 0.2 %

Shares of STT stock traded up $0.15 on Tuesday, reaching $88.92. The company had a trading volume of 458,534 shares, compared to its average volume of 2,162,665. The stock has a market cap of $25.65 billion, a PE ratio of 10.78, a PEG ratio of 1.11 and a beta of 1.44. The company has a 50-day moving average of $95.20 and a 200-day moving average of $94.61. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm posted $2.04 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that State Street will post 9.68 earnings per share for the current year.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On State Street

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in State Street by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 551,210 shares of the asset manager’s stock valued at $54,101,000 after acquiring an additional 32,513 shares during the last quarter. 111 Capital bought a new stake in shares of State Street during the 4th quarter valued at approximately $587,000. Wealth Enhancement Advisory Services LLC increased its position in State Street by 14.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,006 shares of the asset manager’s stock worth $3,240,000 after purchasing an additional 4,220 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in State Street in the 4th quarter valued at approximately $30,624,000. Finally, Integrated Advisors Network LLC acquired a new stake in State Street in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds 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.