State Street (NYSE:STT) PT Raised to $90.00

State Street (NYSE:STT - Get Free Report) had its price objective boosted by research analysts at Morgan Stanley from $89.00 to $90.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the asset manager's stock. Morgan Stanley's price objective would suggest a potential upside of 20.11% from the company's previous close.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their target price on State Street from $79.50 to $80.50 in a report on Friday. Keefe, Bruyette & Woods decreased their target price on State Street from $89.00 to $86.00 and set a "market perform" rating for the company in a report on Monday, January 22nd. Barclays raised their price target on State Street from $87.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday, January 2nd. Argus raised their price target on State Street from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Monday. Finally, Bank of America restated an "underperform" rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $84.04.

State Street Stock Down 1.1 %

Shares of State Street stock traded down $0.85 during trading hours on Monday, reaching $74.93. 3,378,497 shares of the company were exchanged, compared to its average volume of 2,280,965. The firm has a market cap of $22.62 billion, a PE ratio of 14.03, a PEG ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street has a 1 year low of $62.78 and a 1 year high of $79.90. The stock's fifty day moving average is $73.96 and its 200 day moving average is $72.32.

State Street (NYSE:STT - Get Free Report) last released its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. State Street's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. As a group, equities research analysts forecast that State Street will post 7.85 earnings per share for the current year.

Insiders Place Their Bets

In other State Street news, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now owns 23,328 shares of the company's stock, valued at $1,717,873.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Anthony Bisegna sold 4,258 shares of State Street stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.64, for a total value of $313,559.12. Following the completion of the sale, the executive vice president now owns 23,328 shares in the company, valued at $1,717,873.92. 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 over the last quarter. Company insiders own 0.31% of the company's stock.

Institutional Trading of State Street

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of State Street by 0.4% in the first quarter. Vanguard Group Inc. now owns 34,410,077 shares of the asset manager's stock valued at $2,997,806,000 after buying an additional 146,048 shares in the last quarter. Invesco Ltd. boosted its position in State Street by 0.3% during the third quarter. Invesco Ltd. now owns 10,434,030 shares of the asset manager's stock worth $698,663,000 after purchasing an additional 29,190 shares in the last quarter. Morgan Stanley boosted its position in State Street by 31.1% during the fourth quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager's stock worth $467,876,000 after purchasing an additional 1,430,237 shares in the last quarter. JPMorgan Chase & Co. boosted its position in State Street by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 4,935,279 shares of the asset manager's stock worth $373,551,000 after purchasing an additional 469,309 shares in the last quarter. Finally, Northern Trust Corp boosted its position in State Street by 4.1% during the third quarter. Northern Trust Corp now owns 4,624,813 shares of the asset manager's stock worth $309,677,000 after purchasing an additional 180,093 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other 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.