State Street Co. (NYSE:STT) Receives Average Recommendation of "Hold" from Analysts

Shares of State Street Co. (NYSE:STT - Get Free Report) have received a consensus recommendation of "Hold" from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $91.39.

A number of equities analysts have commented on STT shares. Barclays boosted their price objective on shares of State Street from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price 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. Evercore ISI upped their target price on shares of State Street from $89.00 to $94.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on shares of State Street from $100.00 to $102.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on shares of State Street from $98.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th.

State Street Stock Up 4.2 %

STT stock traded up $3.90 during trading on Wednesday, reaching $96.81. The stock had a trading volume of 3,063,922 shares, compared to its average volume of 2,226,110. State Street has a 1-year low of $66.00 and a 1-year 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 company has a market capitalization of $28.38 billion, a P/E ratio of 15.29, a PEG ratio of 1.18 and a beta of 1.46. The firm has a fifty day moving average price of $88.68 and a 200 day moving average price of $81.15.

State Street (NYSE:STT - Get Free Report) 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 net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the business posted $1.93 EPS. The firm's revenue was up 21.1% compared to the same quarter last year. On average, equities analysts anticipate that State Street will post 8.38 earnings per share for the current year.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the company's 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 in the company, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. LSV Asset Management boosted its holdings in shares of State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager's stock valued at $390,897,000 after acquiring an additional 1,238,251 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of State Street by 541.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager's stock valued at $58,117,000 after acquiring an additional 634,422 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of State Street by 430.5% in the first quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager's stock valued at $56,841,000 after acquiring an additional 596,567 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of State Street by 168.7% in the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager's stock valued at $62,469,000 after acquiring an additional 507,270 shares in the last quarter. Finally, Metropolis Capital Ltd boosted its holdings in shares of State Street by 13.1% in the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager's stock valued at $305,238,000 after acquiring an additional 479,205 shares in the last quarter. Institutional investors 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.