State Street (NYSE:STT) Downgraded by StockNews.com to Hold

State Street (NYSE:STT - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on STT. Truist Financial began coverage on shares of State Street in a research report on Tuesday, January 7th. They issued a "hold" rating and a $106.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods raised shares of State Street from a "market perform" rating to an "outperform" rating and increased their target price for the company from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Finally, Evercore ISI upped their price target on State Street from $89.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, State Street currently has an average rating of "Hold" and an average price target of $100.33.

State Street Trading Down 3.0 %

NYSE STT traded down $2.98 during trading hours on Friday, hitting $97.51. 3,712,335 shares of the company were exchanged, compared to its average volume of 2,145,979. The stock has a market cap of $28.58 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. State Street has a 52 week low of $70.20 and a 52 week high of $101.91. The stock has a 50-day moving average price of $97.67 and a 200 day moving average price of $89.35. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.41 billion for the quarter, compared to analysts' expectations of $3,267,560 billion. During the same quarter in the prior year, the firm posted $2.04 earnings per share. The company's quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that State Street will post 8.45 earnings per share for the current fiscal year.

Insider Activity

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company's stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On State Street

Several institutional investors have recently made changes to their positions in the company. Albion Financial Group UT purchased a new position in State Street in the fourth quarter valued at $25,000. Coastline Trust Co acquired a new stake in shares of State Street during the 3rd quarter valued at about $44,000. Friedenthal Financial purchased a new position in shares of State Street in the 4th quarter valued at about $49,000. Capital Performance Advisors LLP acquired a new position in State Street in the 3rd quarter worth about $54,000. Finally, Versant Capital Management Inc boosted its position in State Street by 37.0% during the fourth quarter. Versant Capital Management Inc now owns 730 shares of the asset manager's stock worth $72,000 after purchasing an additional 197 shares in the last quarter. 87.44% of the stock is 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.