State Street (NYSE:STT) Stock Rating Upgraded by Wolfe Research

State Street (NYSE:STT) was upgraded by equities researchers at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on STT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Truist Financial decreased their price objective on State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays lifted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.73.

State Street Stock Up 0.3 %

Shares of STT stock opened at $100.58 on Monday. The stock has a market cap of $29.48 billion, a P/E ratio of 12.21, a PEG ratio of 1.11 and a beta of 1.43. The company’s fifty day simple moving average is $98.08 and its two-hundred day simple moving average is $90.74. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a 52 week low of $70.20 and a 52 week high of $101.91.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that State Street will post 9.43 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of State Street by 0.6% during the third quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock valued at $632,111,000 after purchasing an additional 41,442 shares in the last quarter. FMR LLC boosted its position in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after acquiring an additional 1,354,560 shares during the period. Metropolis Capital Ltd raised its position in shares of State Street by 3.9% in the 3rd quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock worth $379,209,000 after acquiring an additional 161,466 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of State Street by 13.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after purchasing an additional 408,792 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.