State Street Co. (NYSE:STT) Given Consensus Rating of “Hold” by Analysts

State Street Co. (NYSE:STT) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $92.11.

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays increased 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. Morgan Stanley upped their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

State Street Price Performance

Shares of STT stock opened at $98.51 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day simple moving average is $92.42 and its 200 day simple moving average is $83.75. State Street has a one year low of $70.20 and a one year high of $99.50. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.22 and a beta of 1.46.

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

Insider Buying and Selling

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On State Street

Several hedge funds have recently modified their holdings of STT. LRI Investments LLC bought a new position in shares of State Street in the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street during the 2nd quarter worth about $27,000. Coastline Trust Co bought a new stake in shares of State Street in the 3rd quarter valued at about $44,000. Versant Capital Management Inc lifted its stake in State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 416 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in State Street during the third quarter worth about $54,000. Institutional investors 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.