State Street (NYSE:STT) Rating Increased to Buy at StockNews.com

State Street (NYSE:STT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also weighed in on the stock. Evercore ISI boosted their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley raised State Street from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $102.00 to $139.00 in a research report on Monday, December 9th. Barclays upped their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.32.

State Street Stock Performance

STT opened at $94.74 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50-day simple moving average is $95.27 and its 200 day simple moving average is $85.82. The firm has a market capitalization of $27.77 billion, a PE ratio of 14.97, a PEG ratio of 1.24 and a beta of 1.44. State Street has a 52-week low of $70.20 and a 52-week high of $101.91.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. As a group, sell-side analysts expect that State Street will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % 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 John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On State Street

A number of large investors have recently modified their holdings of the business. KBC Group NV grew its position in State Street by 20.5% in the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after buying an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of State Street by 39.3% during the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after acquiring an additional 20,968 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares in the last quarter. 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.