Brokerages Set State Street Corporation (NYSE:STT) Price Target at $125.92

State Street Corporation (NYSE:STT) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $125.9167.

Several brokerages have issued reports on STT. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. TD Cowen began coverage on shares of State Street in a research note on Thursday, September 25th. They set a “buy” rating on the stock. Evercore ISI lifted their price objective on shares of State Street from $117.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. The Goldman Sachs Group upped their target price on State Street from $109.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company increased their target price on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, October 20th.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 1,500 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $117.24, for a total value of $175,860.00. Following the completion of the transaction, the executive vice president directly owned 38,626 shares in the company, valued at approximately $4,528,512.24. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of STT. JPL Wealth Management LLC purchased a new position in State Street in the third quarter worth $29,000. True Wealth Design LLC boosted its position in shares of State Street by 166.3% in the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after purchasing an additional 158 shares in the last quarter. Capital Analysts LLC grew its stake in State Street by 3,914.3% during the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after buying an additional 274 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in State Street during the 3rd quarter valued at about $35,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in State Street during the 3rd quarter valued at about $35,000. Institutional investors own 87.44% of the company’s stock.

State Street Trading Up 0.4%

STT opened at $113.30 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. The stock’s fifty day moving average is $115.14 and its two-hundred day moving average is $108.68. The company has a market capitalization of $31.65 billion, a P/E ratio of 11.99, a PEG ratio of 1.24 and a beta of 1.47. State Street has a 52 week low of $72.81 and a 52 week high of $122.69.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.21. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 EPS. Analysts forecast that State Street will post 9.68 earnings per share for the current year.

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.