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

Shares of State Street Co. (NYSE:STT) have been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, MarketBeat reports. Two equities 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 twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $91.39.

Several research analysts have recently issued reports on the company. Bank of America raised their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Citigroup increased their price objective on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley raised their price objective on 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, Royal Bank of Canada upped their target price on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th.

State Street Stock Up 0.7 %

Shares of State Street stock 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. State Street has a twelve month low of $66.00 and a twelve month high of $94.60. The company has a fifty day moving average price of $88.44 and a 200 day moving average price of $81.04. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46.

State Street (NYSE:STT) last issued its quarterly 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 net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the company posted $1.93 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities research analysts forecast that State Street will post 8.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other State Street news, 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STT. LRI Investments LLC acquired a new stake in State Street during the 1st quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street in the 2nd quarter valued at approximately $27,000. Versant Capital Management Inc grew its position in shares of 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 period. Capital Performance Advisors LLP bought a new stake in State Street during the 3rd quarter worth approximately $54,000. Finally, Trust Co. of Vermont raised its holdings in State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after buying an additional 200 shares during the period. 87.44% of the stock is currently owned by institutional investors.

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.