State Street (NYSE:STT) Rating Lowered to “Hold” at StockNews.com

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

A number of other research firms also recently commented on STT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, January 2nd. Barclays raised their price objective on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lowered their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, State Street has an average rating of “Hold” and an average target price of $100.73.

State Street Price Performance

STT stock opened at $99.16 on Friday. The stock’s 50 day moving average is $98.59 and its two-hundred day moving average is $92.20. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a market capitalization of $29.07 billion, a PE ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 1.43. 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 issued its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Analysts predict that State Street will post 9.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 111,042 shares in the company, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT bought a new position in State Street during the 4th quarter valued at $25,000. Y.D. More Investments Ltd boosted its stake in State Street by 116.6% during the fourth 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 in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in State Street during the fourth quarter worth about $42,000. Coppell Advisory Solutions LLC raised its position in State Street by 2,942.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares in the last quarter. Finally, Coastline Trust Co acquired a new stake in State Street in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds 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.