Morgan Stanley Lowers State Street (NYSE:STT) Price Target to $132.00

State Street (NYSE:STT) had its price objective lowered by Morgan Stanley from $139.00 to $132.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

STT has been the topic of a number of other research reports. StockNews.com lowered State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Barclays raised their price target on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price objective on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Two equities 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.com, the company presently has an average rating of “Hold” and a consensus target price of $98.57.

State Street Price Performance

STT stock opened at $97.67 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. State Street has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a market cap of $28.63 billion, a PE ratio of 15.43, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a 50-day moving average price of $96.99 and a 200 day moving average price of $87.93.

State Street (NYSE:STT) last released its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts anticipate that State Street will post 8.42 earnings per share for the current year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street’s payout ratio is 48.03%.

Insider Activity at State Street

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on 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 in the company, valued at $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 have sold a total of 26,460 shares of company stock valued at $2,499,860 over the last quarter. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STT. GAMMA Investing LLC raised its position in shares of State Street by 28.4% in the 4th quarter. GAMMA Investing LLC now owns 3,202 shares of the asset manager’s stock valued at $314,000 after purchasing an additional 709 shares during the last quarter. Versant Capital Management Inc increased its stake in State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 197 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of State Street by 1.2% in the third quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock worth $30,633,000 after buying an additional 4,052 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of State Street during the third quarter worth $209,000. Finally, Inspire Trust Co. N.A. grew its holdings in shares of State Street by 5.9% during the third quarter. Inspire Trust Co. N.A. now owns 35,776 shares of the asset manager’s stock valued at $3,165,000 after buying an additional 2,000 shares during the last quarter. 87.44% of the stock is currently owned by hedge funds and other 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.