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

State Street (NYSE:STT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

STT has been the subject of several other reports. Wells Fargo & Company raised their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Morgan Stanley decreased their target price on shares of State Street from $142.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.20.

State Street Trading Down 3.0 %

STT opened at $89.80 on Friday. The firm’s fifty day simple moving average is $98.09 and its 200 day simple moving average is $93.86. The stock has a market capitalization of $25.91 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.11 and a beta of 1.44. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 earnings per share. As a group, research analysts anticipate that State Street will post 9.68 EPS for the current fiscal year.

Insider Buying and Selling at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Hedge funds have recently added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new stake in shares of State Street during the 4th quarter worth $25,000. Y.D. More Investments Ltd grew its stake in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in State Street in the 4th quarter valued at about $42,000. Coppell Advisory Solutions LLC increased its holdings in State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after buying an additional 412 shares during the period. Finally, Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at approximately $44,000. Institutional investors own 87.44% of the company’s stock.

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.