Cfra Research Downgrades State Street (NYSE:STT) to Hold

State Street (NYSE:STT - Get Free Report) was downgraded by equities research analysts at Cfra Research from a "moderate buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group set a $98.00 target price on State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. Citigroup decreased their price target on shares of State Street from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price target on shares of State Street from $127.00 to $120.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen cut shares of State Street from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $104.23.

State Street Trading Down 0.1%

NYSE:STT traded down $0.13 during mid-day trading on Thursday, hitting $96.15. The company had a trading volume of 1,242,507 shares, compared to its average volume of 2,130,970. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $103.00. The firm has a market cap of $27.42 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.11 and a beta of 1.42. The business's fifty day moving average is $88.78 and its two-hundred day moving average is $93.98.

State Street (NYSE:STT - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter last year, the firm earned $1.69 EPS. As a group, research analysts expect that State Street will post 9.68 earnings per share 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 on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer now owns 7,354 shares of the company's stock, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On State Street

Hedge funds have recently added to or reduced their stakes in the business. First Pacific Financial acquired a new stake in State Street during the 1st quarter valued at $25,000. Capital Analysts LLC lifted its holdings in shares of State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager's stock worth $25,000 after buying an additional 274 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager's stock worth $36,000 after buying an additional 197 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of State Street by 40.8% during the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock worth $36,000 after buying an additional 118 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in State Street in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 87.44% of the company's stock.

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.