State Street (NYSE:STT) Downgraded to Hold Rating by StockNews.com

State Street (NYSE:STT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other equities research analysts also recently weighed in on the stock. Evercore ISI boosted their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on shares of State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group increased their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley boosted their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, State Street presently has a consensus rating of “Hold” and an average target price of $92.11.

State Street Stock Up 0.6 %

STT stock traded up $0.59 during midday trading on Wednesday, hitting $95.30. The company’s stock had a trading volume of 1,191,834 shares, compared to its average volume of 2,208,649. The firm has a market capitalization of $27.94 billion, a P/E ratio of 15.06, a PEG ratio of 1.18 and a beta of 1.46. The firm has a 50-day simple moving average of $90.73 and a 200-day simple moving average of $82.65. State Street has a 52-week low of $68.99 and a 52-week high of $98.45. 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 posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the firm earned $1.93 EPS. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts forecast that State Street will post 8.42 EPS for the current year.

Insider Transactions at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

A number of institutional investors have recently modified their holdings of STT. Benjamin F. Edwards & Company Inc. raised its holdings in State Street by 5.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after acquiring an additional 129 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of State Street by 9.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares during the period. Rockland Trust Co. lifted its position in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager’s stock worth $737,000 after purchasing an additional 150 shares during the last quarter. Mather Group LLC. boosted its stake in State Street by 10.9% during the 2nd quarter. Mather Group LLC. now owns 1,613 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 158 shares during the period. Finally, Empirical Finance LLC grew its holdings in State Street by 1.4% in the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager’s stock valued at $997,000 after buying an additional 158 shares during the last quarter. 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.