State Street (NYSE:STT) Price Target Lowered to $120.00 at Barclays

State Street (NYSE:STT - Get Free Report) had its price target decreased by investment analysts at Barclays from $127.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the asset manager's stock. Barclays's price objective points to a potential upside of 38.06% from the company's current price.

Several other equities analysts have also weighed in on STT. Morgan Stanley reduced their price target on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Citigroup dropped their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 27th. StockNews.com downgraded State Street from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, The Goldman Sachs Group set a $98.00 price target on State Street and gave the stock a "buy" rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $102.15.

State Street Stock Performance

Shares of NYSE:STT traded up $1.40 during midday trading on Monday, reaching $86.92. The company's stock had a trading volume of 205,680 shares, compared to its average volume of 2,187,031. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average of $88.30 and a 200 day moving average of $93.65. State Street has a twelve month low of $70.20 and a twelve month high of $103.00. The firm has a market capitalization of $25.08 billion, a PE ratio of 10.52, a P/E/G ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the firm earned $1.69 EPS. On average, equities analysts expect that State Street will post 9.68 EPS for the current fiscal year.

Insider Activity at State Street

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company's stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Adero Partners LLC boosted its holdings in State Street by 3.6% during the 4th quarter. Adero Partners LLC now owns 2,900 shares of the asset manager's stock valued at $285,000 after acquiring an additional 100 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of State Street by 2.0% in the third quarter. Peapack Gladstone Financial Corp now owns 5,283 shares of the asset manager's stock valued at $467,000 after purchasing an additional 103 shares during the period. Sequoia Financial Advisors LLC increased its stake in State Street by 2.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,414 shares of the asset manager's stock worth $395,000 after buying an additional 118 shares during the period. Jacobi Capital Management LLC lifted its holdings in State Street by 1.0% during the 4th quarter. Jacobi Capital Management LLC now owns 12,232 shares of the asset manager's stock worth $1,201,000 after buying an additional 121 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in State Street by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 18,332 shares of the asset manager's stock valued at $1,799,000 after buying an additional 131 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.