State Street (NYSE:STT) Stock Rating Upgraded by JPMorgan Chase & Co.

State Street (NYSE:STT) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. The brokerage currently has a $95.00 price objective on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.26% from the stock’s previous close.

STT has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a report on Thursday. Barclays upped their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.36.

State Street Trading Up 2.9 %

Shares of STT stock opened at $98.20 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day simple moving average of $95.56 and a two-hundred day simple moving average of $86.13. The firm has a market capitalization of $28.79 billion, a PE ratio of 15.51, a PEG ratio of 1.24 and a beta of 1.44. State Street has a 52-week low of $70.20 and a 52-week high of $101.91.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business posted $1.93 earnings per share. The firm’s revenue was up 21.1% on a year-over-year basis. On average, analysts predict that State Street will post 8.42 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new stake in State Street during the 2nd quarter valued at $27,000. Coastline Trust Co bought a new stake in State Street during the third quarter valued at about $44,000. Capital Performance Advisors LLP purchased a new position in State Street in the third quarter valued at about $54,000. Family Firm Inc. bought a new position in State Street in the second quarter worth about $61,000. Finally, Tobam bought a new position in State Street in the third quarter worth about $77,000. 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.