State Street (NYSE:STT) Stock Rating Upgraded by StockNews.com

State Street (NYSE:STT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

STT has been the subject of several other research reports. Wells Fargo & Company upped their price target on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays upped their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley raised shares of State Street from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $102.00 to $139.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, State Street currently has a consensus rating of “Hold” and a consensus target price of $97.32.

State Street Stock Performance

Shares of STT stock opened at $94.74 on Thursday. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The stock’s 50-day moving average is $95.27 and its two-hundred day moving average is $85.82. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $27.77 billion, a P/E ratio of 14.97, a PEG ratio of 1.24 and a beta of 1.44.

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. The firm had revenue of $3.26 billion for 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 firm’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. Analysts predict that State Street will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was 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 directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction dated 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 directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock worth $2,499,860 in the last 90 days. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On State Street

Institutional investors have recently made changes to their positions in the stock. KBC Group NV raised its stake in State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after buying an additional 12,707 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of State Street by 17.3% during the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after buying an additional 20,183 shares during the period. Ensign Peak Advisors Inc grew its holdings in shares of State Street by 39.3% during the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after buying an additional 20,968 shares during the last quarter. Finally, LSV Asset Management lifted its stake in State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

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.