State Street (NYSE:STT) PT Lowered to $84.00

State Street (NYSE:STT) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $88.00 to $84.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 15.34% from the company’s current price.

A number of other brokerages have also issued reports on STT. Evercore ISI increased their price target on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Argus raised their target price on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price target on shares of State Street in a report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Finally, UBS Group increased their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $83.88.

State Street Price Performance

Shares of NYSE STT opened at $72.83 on Thursday. The stock has a market cap of $21.94 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.26 and a beta of 1.47. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm’s 50-day simple moving average is $74.30 and its 200 day simple moving average is $74.70. State Street has a fifty-two week low of $62.78 and a fifty-two week high of $79.90.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.06 billion. State Street had a net margin of 9.62% and a return on equity of 12.03%. Equities analysts expect that State Street will post 7.94 EPS for the current year.

Institutional Trading of State Street

Several large investors have recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of State Street by 0.5% during the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after buying an additional 31,314 shares in the last quarter. LSV Asset Management grew its stake in State Street by 10.5% during the 1st quarter. LSV Asset Management now owns 4,044,135 shares of the asset manager’s stock valued at $312,693,000 after acquiring an additional 385,404 shares in the last quarter. Metropolis Capital Ltd increased its holdings in shares of State Street by 5.3% in the 1st quarter. Metropolis Capital Ltd now owns 3,645,635 shares of the asset manager’s stock valued at $281,880,000 after purchasing an additional 183,591 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of State Street by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,597,783 shares of the asset manager’s stock worth $201,243,000 after purchasing an additional 79,746 shares in the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of State Street by 5.8% during the fourth quarter. Putnam Investments LLC now owns 2,343,254 shares of the asset manager’s stock worth $181,508,000 after purchasing an additional 129,493 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

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.