Citigroup Has Lowered Expectations for State Street (NYSE:STT) Stock Price

State Street (NYSE:STT) had its target price decreased by Citigroup from $105.00 to $100.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Citigroup’s price objective would indicate a potential upside of 8.14% from the company’s current price.

A number of other equities analysts have also weighed in on STT. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Truist Financial cut their price target on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Wolfe Research upgraded State Street from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.87.

State Street Trading Down 0.4 %

Shares of STT stock opened at $92.47 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $26.67 billion, a P/E ratio of 11.22, a PEG ratio of 1.11 and a beta of 1.44. The company has a 50 day moving average of $95.84 and a 200-day moving average of $94.40. State Street has a 12-month low of $70.20 and a 12-month high of $103.00.

State Street (NYSE:STT) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same period last year, the business posted $2.04 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that State Street will post 9.68 earnings per share for the current year.

Insider Transactions at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ann Fogarty sold 3,705 shares of the business’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 value of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of State Street by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 551,210 shares of the asset manager’s stock worth $54,101,000 after buying an additional 32,513 shares during the period. 111 Capital bought a new position in State Street during the 4th quarter worth approximately $587,000. Wealth Enhancement Advisory Services LLC increased its stake in State Street by 14.7% in 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in State Street in the fourth quarter valued at approximately $30,624,000. Finally, Integrated Advisors Network LLC purchased a new stake in shares of State Street during the fourth quarter valued at approximately $207,000. 87.44% of the stock is owned by institutional investors.

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.