State Street (NYSE:STT) Raised to Neutral at JPMorgan Chase & Co.

State Street (NYSE:STT) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a $95.00 target price on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 3.26% from the company’s current price.

Several other research firms also recently issued reports on STT. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and upped their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays lifted their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $98.36.

State Street Trading Up 2.9 %

State Street stock opened at $98.20 on Friday. 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 stock has a market cap of $28.79 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The stock has a 50-day moving average of $95.56 and a two-hundred day moving average of $86.13. State Street has a one year low of $70.20 and a one year high of $101.91.

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

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock worth $2,499,860 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

Several institutional investors have recently bought and sold shares of STT. KBC Group NV raised its holdings in shares of State Street by 20.5% during 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. raised its stake in State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after purchasing an additional 41,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock worth $6,069,000 after purchasing an additional 20,968 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.