State Street (NYSE:STT) Price Target Raised to $127.00

State Street (NYSE:STT) had its target price raised by equities research analysts at Barclays from $108.00 to $127.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price objective would indicate a potential upside of 29.94% from the company’s previous close.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Morgan Stanley decreased their price target 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. Evercore ISI upped their price objective 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 State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.33.

State Street Stock Down 0.7 %

STT opened at $97.74 on Monday. The stock has a market capitalization of $28.65 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.24 and a beta of 1.43. The firm has a 50 day moving average price of $97.19 and a 200-day moving average price of $88.40. State Street has a twelve month low of $70.20 and a twelve month high of $101.91. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS. Equities research analysts forecast that State Street will post 8.42 earnings per share for the current year.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction that occurred 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 approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 in the last 90 days. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street during the 2nd quarter valued at about $27,000. Coastline Trust Co purchased a new stake in State Street during the third quarter valued at approximately $44,000. Capital Performance Advisors LLP bought a new stake in shares of State Street in the 3rd quarter valued at approximately $54,000. Versant Capital Management Inc boosted its holdings in shares of State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares during the period. Finally, Tobam bought a new position in shares of State Street during the 3rd quarter valued at approximately $77,000. Institutional investors own 87.44% of the company’s stock.

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.