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

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

A number of other research analysts have also recently issued reports on the company. Barclays boosted their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI increased their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. 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 report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.36.

State Street Price Performance

Shares of STT opened at $98.58 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The stock has a market cap of $28.90 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The stock’s 50-day moving average price is $96.26 and its two-hundred day moving average price is $87.01. State Street has a 1 year low of $70.20 and a 1 year high of $101.91.

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

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’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 directly owns 111,042 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were 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 owns 55,108 shares in the company, valued at approximately $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in State Street by 1.2% during the third quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock worth $30,633,000 after purchasing an additional 4,052 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in State Street in the third quarter valued at about $209,000. Inspire Trust Co. N.A. lifted its holdings in shares of State Street by 5.9% in the third quarter. Inspire Trust Co. N.A. now owns 35,776 shares of the asset manager’s stock worth $3,165,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of State Street by 13.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock valued at $306,116,000 after purchasing an additional 408,792 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in shares of State Street by 2.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 103 shares during the last quarter. 87.44% of the stock is 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.