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

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

Several other equities analysts have also weighed in on STT. Wells Fargo & Company increased their price objective on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their price objective 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. Barclays upped their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI upped their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $94.68.

State Street Stock Down 0.3 %

Shares of STT stock opened at $97.77 on Monday. State Street has a 52-week low of $70.20 and a 52-week high of $99.50. 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 $28.66 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.21 and a beta of 1.44. The firm’s 50-day moving average is $92.78 and its 200-day moving average is $84.07.

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

Insider Activity

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 value of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. 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 company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,460 shares of company stock worth $2,499,860. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of State Street

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC grew its position in State Street by 6.7% during the 1st quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock worth $552,000 after acquiring an additional 448 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after buying an additional 24,906 shares during the period. Cetera Advisors LLC raised its holdings in State Street by 546.5% in the 1st quarter. Cetera Advisors LLC now owns 21,018 shares of the asset manager’s stock valued at $1,625,000 after buying an additional 17,767 shares during the last quarter. GAMMA Investing LLC boosted its position in State Street by 79.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,832 shares of the asset manager’s stock worth $136,000 after buying an additional 809 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

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.