State Street Corporation (NYSE:STT) Receives $125.92 Consensus PT from Analysts

State Street Corporation (NYSE:STT) has been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $125.9167.

Several equities analysts have weighed in on STT shares. Keefe, Bruyette & Woods boosted their target price on shares of State Street from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Wells Fargo & Company lifted their price target on shares of State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Evercore ISI increased their price objective on State Street from $117.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial cut their target price on State Street from $133.00 to $131.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Finally, Cowen restated a “buy” rating on shares of State Street in a research report on Tuesday, October 21st.

State Street Stock Up 1.1%

Shares of NYSE STT opened at $129.03 on Thursday. The firm has a market cap of $36.04 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.44. The company’s 50-day simple moving average is $117.84 and its 200-day simple moving average is $112.04. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. State Street has a 52-week low of $72.81 and a 52-week high of $131.36.

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

Insider Buying and Selling at State Street

In other news, EVP Michael L. Richards sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 owned 38,626 shares of the company’s stock, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On State Street

A number of large investors have recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of State Street during the 4th quarter worth approximately $296,000. Chicago Partners Investment Group LLC acquired a new stake in State Street during the 1st quarter worth $208,000. Zions Bancorporation National Association UT purchased a new stake in State Street in the first quarter valued at $46,000. Townsquare Capital LLC boosted its stake in State Street by 6.0% in the first quarter. Townsquare Capital LLC now owns 4,282 shares of the asset manager’s stock valued at $383,000 after acquiring an additional 244 shares in the last quarter. Finally, Nuveen LLC acquired a new position in State Street in the first quarter valued at $93,016,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

State Street Company Profile

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.