State Street (NYSE:STT) Upgraded to Overweight at Morgan Stanley

State Street (NYSE:STT - Get Free Report) was upgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $139.00 price target on the asset manager's stock, up from their previous price target of $102.00. Morgan Stanley's price objective would indicate a potential upside of 39.80% from the stock's current price.

STT has been the topic of a number of other reports. Wells Fargo & Company raised their price objective on shares of State Street from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. StockNews.com cut State Street from a "buy" rating to a "hold" rating in a report on Monday, December 2nd. Barclays boosted their price target on State Street from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on State Street from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $97.32.

State Street Trading Up 1.0 %

Shares of State Street stock traded up $1.02 during trading hours on Monday, hitting $99.43. The company's stock had a trading volume of 3,335,012 shares, compared to its average volume of 2,200,854. The company has a market capitalization of $29.15 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day moving average of $93.37 and a 200 day moving average of $84.52. State Street has a 12 month low of $70.20 and a 12 month high of $100.35.

State Street (NYSE:STT - Get Free Report) last posted its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same period in the prior year, the business earned $1.93 EPS. State Street's revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts predict that State Street will post 8.42 earnings per share for the current year.

Insider Transactions at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The shares were 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 owns 111,042 shares of the company's stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,460 shares of company stock worth $2,499,860 in the last 90 days. Corporate insiders own 0.31% of the company's stock.

Institutional Trading of State Street

A number of hedge funds have recently made changes to their positions in the business. KBC Group NV raised its stake in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager's stock valued at $6,607,000 after acquiring an additional 12,707 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager's stock valued at $12,124,000 after purchasing an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager's stock valued at $10,794,000 after purchasing an additional 41,180 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of State Street by 43.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager's stock worth $6,069,000 after buying an additional 20,968 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager's stock worth $390,897,000 after buying an additional 1,238,251 shares during the period. 87.44% of the stock is 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.