State Street (NYSE:STT) Raised to “Neutral” at JPMorgan Chase & Co.

State Street (NYSE:STT) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $95.00 price target on the asset manager’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 0.44% from the company’s current price.

STT has been the topic of several other research reports. Barclays increased their price objective on State Street from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a research note on Thursday. The Goldman Sachs Group upped their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley upgraded State Street from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $102.00 to $139.00 in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, State Street presently has an average rating of “Hold” and a consensus price target of $98.36.

State Street Trading Up 0.7 %

STT stock opened at $95.42 on Friday. The stock has a market cap of $27.97 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a fifty day moving average price of $95.39 and a two-hundred day moving average price of $85.89. State Street has a one year low of $70.20 and a one year high of $101.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. State Street’s revenue was up 21.1% compared to the same quarter last year. Equities analysts anticipate that State Street will post 8.42 EPS for the current year.

Insider Activity

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the business’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 sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,460 shares of company stock worth $2,499,860. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Several institutional investors and hedge funds have recently added to or reduced their stakes in STT. Ashton Thomas Private Wealth LLC bought a new stake in shares of State Street in the second quarter worth $27,000. Coastline Trust Co acquired a new position in State Street during the 3rd quarter worth about $44,000. Capital Performance Advisors LLP bought a new stake in shares of State Street in the 3rd quarter valued at about $54,000. Family Firm Inc. acquired a new stake in shares of State Street in the second quarter valued at about $61,000. Finally, LRI Investments LLC raised its position in shares of State Street by 202.7% during the second quarter. LRI Investments LLC now owns 993 shares of the asset manager’s stock worth $73,000 after acquiring an additional 665 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.