State Street (NYSE:STT) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of State Street (NYSE:STT) from a market perform rating to an outperform rating in a research note released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $120.00 price objective on the asset manager’s stock, up from their prior price objective of $105.00.

Several other equities analysts also recently issued reports on the company. Evercore ISI upped their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a report on Monday. Barclays lifted their target price on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their price target 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. Finally, Morgan Stanley lifted their price objective on shares of State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.68.

State Street Stock Up 1.3 %

Shares of STT stock opened at $98.60 on Tuesday. The stock’s fifty day moving average price is $93.17 and its 200 day moving average price is $84.27. State Street has a 1-year low of $70.20 and a 1-year high of $99.75. The company has a market cap of $28.90 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for 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 revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 earnings per share. On average, research analysts expect that State Street will post 8.42 earnings per share for the current fiscal year.

Insider Activity at State Street

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The shares were 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 owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 26,460 shares of company stock worth $2,499,860 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

Several large investors have recently bought and sold shares of STT. Peapack Gladstone Financial Corp boosted its stake in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock worth $467,000 after acquiring an additional 103 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of State Street by 9.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after buying an additional 148 shares during the last quarter. Rockland Trust Co. lifted its stake in shares of State Street by 1.8% in the third quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after buying an additional 150 shares in the last quarter. Finally, Mather Group LLC. boosted its position in State Street by 10.9% during the second quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock worth $125,000 after acquiring an additional 158 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.