State Street (NYSE:STT) Lowered to “Hold” Rating by StockNews.com

State Street (NYSE:STT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and upped their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Evercore ISI lifted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial assumed coverage on State Street in a report on Tuesday, January 7th. They issued a “hold” rating and a $106.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.33.

State Street Price Performance

NYSE STT opened at $100.46 on Friday. The stock has a 50-day simple moving average of $97.56 and a 200 day simple moving average of $89.28. State Street has a twelve month low of $70.20 and a twelve month high of $101.91. The stock has a market capitalization of $29.45 billion, a PE ratio of 15.87, a P/E/G ratio of 0.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56.

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 analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $1.93 earnings per share. Research analysts anticipate that State Street will post 8.45 EPS for the current year.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street 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 completion of the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of State Street by 21.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,395 shares of the asset manager’s stock valued at $917,000 after buying an additional 2,153 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in State Street by 10.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,774 shares of the asset manager’s stock worth $2,573,000 after acquiring an additional 3,230 shares during the last quarter. XTX Topco Ltd increased its position in State Street by 646.9% in the 2nd quarter. XTX Topco Ltd now owns 21,691 shares of the asset manager’s stock valued at $1,605,000 after acquiring an additional 18,787 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 during the last quarter. Finally, Bridges Investment Management Inc. lifted its position in shares of State Street by 407.7% during the second quarter. Bridges Investment Management Inc. now owns 36,679 shares of the asset manager’s stock worth $2,714,000 after purchasing an additional 29,454 shares in the last quarter. 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.