State Street (NYSE:STT) Price Target Raised to $80.50

State Street (NYSE:STT - Get Free Report) had its target price boosted by research analysts at JPMorgan Chase & Co. from $79.50 to $80.50 in a report issued on Friday. JPMorgan Chase & Co.'s price target would suggest a potential upside of 6.23% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada boosted their price objective on State Street from $75.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, January 22nd. Morgan Stanley upped their target price on State Street from $83.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 30th. Evercore ISI upped their target price on State Street from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods cut their target price on State Street from $89.00 to $86.00 and set a "market perform" rating for the company in a research report on Monday, January 22nd. Finally, Barclays upped their target price on State Street from $87.00 to $102.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.71.

State Street Stock Performance

NYSE STT traded up $1.87 during trading hours on Friday, reaching $75.78. The company's stock had a trading volume of 6,594,385 shares, compared to its average volume of 2,265,227. The business has a 50-day simple moving average of $73.87 and a 200 day simple moving average of $72.14. The stock has a market cap of $22.88 billion, a PE ratio of 13.44, a PEG ratio of 1.38 and a beta of 1.52. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.86. State Street has a 52 week low of $62.78 and a 52 week high of $81.37.

State Street (NYSE:STT - Get Free Report) last issued its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.95 billion. State Street had a return on equity of 11.86% and a net margin of 10.59%. The business's revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 earnings per share. Equities research analysts predict that State Street will post 7.87 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company's stock, valued at approximately $1,294,801. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other State Street news, EVP Anthony Bisegna sold 2,606 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company's stock, valued at approximately $1,294,801. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the business's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold a total of 18,864 shares of company stock valued at $1,390,597 in the last three months. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently modified their holdings of STT. Raymond James Trust N.A. increased its stake in shares of State Street by 29.3% in the first quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager's stock worth $392,000 after acquiring an additional 1,021 shares during the last quarter. Blair William & Co. IL increased its stake in shares of State Street by 14.3% in the first quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager's stock worth $1,547,000 after acquiring an additional 2,216 shares during the last quarter. Sei Investments Co. increased its stake in shares of State Street by 3.8% in the first quarter. Sei Investments Co. now owns 280,353 shares of the asset manager's stock worth $24,436,000 after acquiring an additional 10,187 shares during the last quarter. Prudential PLC acquired a new position in shares of State Street in the first quarter worth $812,000. Finally, Cetera Investment Advisers increased its stake in shares of State Street by 16.5% in the first quarter. Cetera Investment Advisers now owns 23,170 shares of the asset manager's stock worth $2,019,000 after acquiring an additional 3,276 shares during the last quarter. 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.