State Street (NYSE:STT) Price Target Lowered to $106.00 at Evercore ISI

State Street (NYSE:STT - Get Free Report) had its price objective dropped by stock analysts at Evercore ISI from $109.00 to $106.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Evercore ISI's price objective would indicate a potential upside of 28.27% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Truist Financial lowered their price target on shares of State Street from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upgraded shares of State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Morgan Stanley cut their price target on State Street from $142.00 to $139.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Keefe, Bruyette & Woods raised State Street from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, State Street presently has an average rating of "Hold" and a consensus target price of $102.07.

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State Street Stock Performance

STT traded down $6.95 on Tuesday, hitting $82.64. 3,019,991 shares of the company's stock were exchanged, compared to its average volume of 2,168,103. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average of $94.85 and a two-hundred day moving average of $94.62. State Street has a twelve month low of $70.20 and a twelve month high of $103.00. The firm has a market cap of $23.84 billion, a PE ratio of 10.03, a P/E/G ratio of 1.11 and a beta of 1.44.

State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.31. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business's revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. On average, research analysts anticipate that State Street will post 9.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at approximately $5,054,667.52. This represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in STT. Albion Financial Group UT acquired a new position in State Street in the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its position in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the fourth quarter worth $42,000. Coppell Advisory Solutions LLC grew its holdings in shares of State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after buying an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in State Street by 187.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after buying an additional 311 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.