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

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

Several other analysts have also recently commented on STT. Morgan Stanley decreased their target price on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Barclays upped their target price on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company upped their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, State Street has a consensus rating of “Hold” and a consensus price target of $100.73.

State Street Trading Up 0.1 %

NYSE:STT opened at $99.16 on Friday. The stock has a fifty day simple moving average of $98.59 and a 200 day simple moving average of $92.20. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street has a 1-year low of $70.20 and a 1-year high of $103.00. 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 (NYSE:STT) last released its earnings results 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 business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. Sell-side analysts forecast that State Street will post 9.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the company’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 sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Albion Financial Group UT bought a new position in shares of State Street in the fourth quarter worth about $25,000. Y.D. More Investments Ltd grew its holdings in State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in State Street in the 4th quarter worth approximately $42,000. Coppell Advisory Solutions LLC lifted its holdings in shares of State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after buying an additional 412 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of State Street in the third quarter valued at approximately $44,000. Institutional investors and hedge funds 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.