State Street (NYSE:STT) Upgraded by StockNews.com to "Buy" Rating

StockNews.com upgraded shares of State Street (NYSE:STT - Free Report) from a hold rating to a buy rating in a research report released on Tuesday.

STT has been the topic of several other reports. Morgan Stanley upgraded State Street from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $102.00 to $139.00 in a research note on Monday. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Barclays increased their price objective on shares of State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their target price on shares of State Street from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft raised 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $97.32.

State Street Stock Up 0.6 %

State Street stock traded up $0.60 during trading hours on Tuesday, reaching $100.03. The stock had a trading volume of 2,311,180 shares, compared to its average volume of 2,202,160. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.22 and a beta of 1.44. The business's 50 day moving average price is $93.59 and its 200-day moving average price is $84.69. State Street has a 52 week low of $70.20 and a 52 week high of $100.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. State Street's revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. Sell-side analysts anticipate that State Street will post 8.42 EPS for the current year.

Insider Buying and Selling at State Street

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. Also, EVP John Plansky sold 13,859 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Peapack Gladstone Financial Corp increased its stake in shares of State Street by 2.0% in the 3rd 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager's stock valued at $186,000 after buying an additional 129 shares in the last quarter. Rockland Trust Co. raised its stake in shares of State Street by 1.8% during the 3rd quarter. Rockland Trust Co. now owns 8,332 shares of the asset manager's stock worth $737,000 after buying an additional 150 shares during the period. Empirical Finance LLC lifted its position in shares of State Street by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 11,268 shares of the asset manager's stock valued at $997,000 after buying an additional 158 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in State Street by 3.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,790 shares of the asset manager's stock valued at $512,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 87.44% of the company's stock.

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.