State Street (NYSE:STT) Cut to Hold at Cfra Research

State Street (NYSE:STT) was downgraded by investment analysts at Cfra Research from a “moderate buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on STT. Evercore ISI reduced their price objective on State Street from $109.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. The Goldman Sachs Group set a $98.00 target price on State Street and gave the stock a “buy” rating in a report on Thursday, April 17th. Barclays dropped their target price on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Truist Financial raised State Street from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $112.00 in a report on Wednesday. Finally, Wells Fargo & Company dropped their target price on State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.23.

State Street Trading Down 0.8%

Shares of NYSE:STT opened at $96.22 on Thursday. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $88.78 and a 200-day moving average price of $93.98.

State Street (NYSE:STT) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same period last year, the business posted $1.69 earnings per share. Equities analysts predict that State Street will post 9.68 EPS for the current year.

Insider Buying and Selling at State Street

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares of the company’s stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of State Street

Institutional investors have recently bought and sold shares of the business. First Pacific Financial acquired a new stake in State Street in the first quarter valued at approximately $25,000. Capital Analysts LLC boosted its stake in shares of State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after acquiring an additional 274 shares during the last quarter. Y.D. More Investments Ltd boosted its stake 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 acquiring an additional 197 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after acquiring an additional 118 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of State Street in the fourth quarter worth approximately $42,000. 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.