Wolfe Research Upgrades State Street (NYSE:STT) to “Peer Perform”

State Street (NYSE:STT) was upgraded by stock analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a note issued to investors on Monday, Marketbeat.com reports.

STT has been the topic of a number of other research reports. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Saturday. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays lifted their price target on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Friday, December 20th. Finally, Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.73.

State Street Stock Performance

Shares of STT opened at $100.58 on Monday. State Street has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a fifty day moving average price of $98.08 and a 200-day moving average price of $90.74. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The firm has a market cap of $29.48 billion, a PE ratio of 12.21, a P/E/G ratio of 1.11 and a beta of 1.43.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating 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 company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the business posted $2.04 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that State Street will post 9.43 earnings per share for the current fiscal year.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Institutional investors have recently made changes to their positions in the company. Albion Financial Group UT acquired a new stake in State Street during the 4th quarter worth $25,000. Y.D. More Investments Ltd lifted its stake in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares in the last quarter. Coastline Trust Co acquired a new position in State Street during the third quarter worth about $44,000. Friedenthal Financial purchased a new stake in State Street during the 4th quarter valued at about $49,000. Finally, Hager Investment Management Services LLC acquired a new stake in State Street in the 4th quarter valued at about $56,000. 87.44% of the stock is owned by institutional investors and hedge funds.

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.