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

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

Other equities analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Evercore ISI upped their price objective 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 lifted their target price on shares of State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays upped their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.11.

State Street Stock Up 1.1 %

State Street stock opened at $96.34 on Wednesday. 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’s fifty day moving average price is $91.01 and its two-hundred day moving average price is $82.75. The firm has a market capitalization of $28.24 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. State Street has a 1-year low of $68.99 and a 1-year high of $98.45.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 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 firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the company posted $1.93 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities research analysts predict that State Street will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Plansky sold 13,859 shares of the business’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 completion of the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was 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 through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On State Street

A number of institutional investors and hedge funds have recently bought and sold shares of STT. LRI Investments LLC purchased a new stake in shares of State Street during the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street during the second quarter valued at about $27,000. Versant Capital Management Inc lifted its stake in State Street by 411.9% during 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 last quarter. Coastline Trust Co purchased a new position in shares of State Street in the 3rd quarter worth about $44,000. Finally, Trust Co. of Vermont increased its position in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.

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.