State Street (NYSE:STT) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of State Street (NYSE:STT) from a buy rating to a hold rating in a research note published on Monday.

STT has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Evercore ISI boosted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price objective on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus price target of $94.68.

State Street Stock Down 0.4 %

STT stock opened at $97.37 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a 1 year low of $70.20 and a 1 year high of $99.50. The company has a fifty day simple moving average of $92.96 and a 200 day simple moving average of $84.17. The firm has a market cap of $28.54 billion, a PE ratio of 15.38, a PEG ratio of 1.21 and a beta of 1.44.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. Sell-side analysts anticipate that State Street will post 8.42 EPS for the current fiscal year.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock valued at $2,499,860 over the last quarter. 0.31% of the stock is owned by company insiders.

Institutional Trading of State Street

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in State Street during the second quarter worth about $27,000. Versant Capital Management Inc grew its stake in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares during the last quarter. Coastline Trust Co bought a new stake in State Street during the third quarter worth about $44,000. Trust Co. of Vermont grew its stake in State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after buying an additional 200 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in State Street during the third quarter worth about $54,000. 87.44% of the stock is owned by institutional investors.

State Street Company Profile

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.