State Street Co. (NYSE:STT) Receives Average Recommendation of “Hold” from Analysts

Shares of State Street Co. (NYSE:STT) have earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $91.39.

A number of research analysts have commented on STT shares. Barclays upped their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI raised 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. Citigroup upped their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their target price on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

Insider Buying and Selling at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. boosted its holdings in State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after acquiring an additional 129 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in State Street by 9.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 148 shares during the period. Rockland Trust Co. grew its position in State Street by 1.8% in the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock valued at $737,000 after purchasing an additional 150 shares during the period. Mather Group LLC. raised its holdings in State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after buying an additional 158 shares during the last quarter. Finally, Covestor Ltd raised its holdings in State Street by 13.0% during the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $119,000 after buying an additional 177 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Trading Up 0.7 %

NYSE STT opened at $92.91 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average of $88.44 and a 200-day moving average of $81.04. The company has a market cap of $27.74 billion, a PE ratio of 14.68, a PEG ratio of 1.19 and a beta of 1.46. State Street has a 12 month low of $66.00 and a 12 month high of $94.60.

State Street (NYSE:STT) last released its quarterly earnings data 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 firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the business posted $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities research analysts anticipate that State Street will post 8.38 EPS for the current fiscal year.

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.