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

State Street Co. (NYSE:STT) has earned an average recommendation of “Hold” from the thirteen research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $92.11.

A number of research firms have recently issued reports on STT. Wells Fargo & Company increased their target price on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays increased their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley raised their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Plansky sold 13,859 shares of State Street 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 transaction, the executive vice president now owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Several large investors have recently bought and sold shares of STT. Tidal Investments LLC raised its holdings in State Street by 6.7% in the 1st quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock valued at $552,000 after acquiring an additional 448 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of State Street in the first quarter valued at $300,000. LRI Investments LLC bought a new position in State Street in the first quarter worth $25,000. Swedbank AB acquired a new stake in State Street during the first quarter worth $10,456,000. Finally, Burney Co. increased its holdings in State Street by 2.7% in the 1st quarter. Burney Co. now owns 10,916 shares of the asset manager’s stock valued at $844,000 after buying an additional 286 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Stock Down 0.3 %

Shares of NYSE:STT opened at $98.51 on Friday. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $99.50. The company has a market cap of $28.88 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.22 and a beta of 1.46. The firm’s 50-day simple moving average is $92.42 and its 200-day simple moving average is $83.75. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last announced its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, equities research analysts predict that State Street will post 8.42 earnings per share for the current year.

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.