Barclays Cuts State Street (NYSE:STT) Price Target to $120.00

State Street (NYSE:STT - Get Free Report) had its price objective reduced by equities research analysts at Barclays from $127.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Barclays's price objective points to a potential upside of 37.41% from the company's current price.

Several other analysts have also weighed in on the company. Wells Fargo & Company decreased their price objective on State Street from $118.00 to $113.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. The Goldman Sachs Group set a $98.00 target price on shares of State Street and gave the company a "buy" rating in a research note on Thursday, April 17th. Evercore ISI cut their price target on shares of State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Finally, Truist Financial decreased their price objective on State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $102.15.

State Street Stock Performance

NYSE STT traded down $0.24 during trading on Monday, hitting $87.33. The company's stock had a trading volume of 2,100,424 shares, compared to its average volume of 2,152,907. State Street has a 52 week low of $70.20 and a 52 week high of $103.00. 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 firm has a market cap of $25.20 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42. The firm has a 50 day moving average price of $87.81 and a 200 day moving average price of $93.64.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the prior year, the firm earned $1.69 EPS. Equities research analysts forecast that State Street will post 9.68 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In related news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company's stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the transaction, the director now owns 100,023 shares of the company's stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in State Street in the 4th quarter valued at approximately $161,021,000. Price T Rowe Associates Inc. MD raised its stake in State Street by 236.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager's stock valued at $226,642,000 after acquiring an additional 1,622,408 shares during the period. FMR LLC lifted its stake in shares of State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager's stock worth $685,441,000 after buying an additional 870,849 shares during the last quarter. Azora Capital LP bought a new stake in shares of State Street during the fourth quarter worth approximately $80,294,000. Finally, Northern Trust Corp boosted its stake in State Street by 15.7% in the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager's stock valued at $407,166,000 after purchasing an additional 563,790 shares during the period. 87.44% of the stock is currently owned by institutional investors.

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.