State Street Co. (NYSE:STT) Receives $91.39 Average PT from Brokerages

Shares of State Street Co. (NYSE:STT) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $91.96.

Several equities analysts have recently commented on the company. Royal Bank of Canada increased their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays boosted their target price on shares of State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America upped their price objective on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th.

Insiders Place Their Bets

In other news, EVP John Plansky sold 13,859 shares of State Street 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently modified their holdings of STT. LRI Investments LLC acquired a new position in State Street during the 1st quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of State Street during the second quarter valued at approximately $27,000. Coastline Trust Co bought a new stake in State Street during the third quarter worth approximately $44,000. Versant Capital Management Inc lifted its position in State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in State Street during the 3rd quarter valued at $54,000. 87.44% of the stock is currently owned by institutional investors.

State Street Price Performance

STT opened at $95.21 on Wednesday. State Street has a twelve month low of $66.86 and a twelve month high of $98.45. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.21 and a beta of 1.46. The company has a fifty day simple moving average of $89.21 and a 200 day simple moving average of $81.65.

State Street (NYSE:STT) last announced its 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. 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 for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts expect that State Street will post 8.38 EPS for the current fiscal year.

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.