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

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

STT has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Truist Financial started coverage on shares of State Street in a research report on Tuesday, January 7th. They set a “hold” rating and a $106.00 price target on the stock. Barclays raised their price objective on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley reduced their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Finally, Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.33.

State Street Stock Down 3.0 %

STT opened at $97.51 on Friday. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day simple moving average is $97.72 and its 200-day simple moving average is $89.52. State Street has a twelve month low of $70.20 and a twelve month high of $101.91.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3,267,560 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. Equities research analysts anticipate that State Street will post 8.45 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 completion of the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Donoghue Forlines LLC acquired a new stake in shares of State Street during the fourth quarter worth about $1,530,000. Mutual Advisors LLC acquired a new stake in State Street during the 4th quarter worth approximately $207,000. Janney Montgomery Scott LLC lifted its stake in State Street by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after buying an additional 7,446 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of State Street by 569.1% in the fourth quarter. SG Americas Securities LLC now owns 16,861 shares of the asset manager’s stock valued at $1,655,000 after buying an additional 14,341 shares during the period. Finally, Albion Financial Group UT bought a new stake in shares of State Street during the fourth quarter worth $25,000. 87.44% of the stock is currently 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.