State Street (STT) PT Set at $120.00 by Keefe, Bruyette & Woods

State Street (NYSE:STT) received a $120.00 target price from Keefe, Bruyette & Woods in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 6.97% from the company’s current price.

A number of other brokerages also recently weighed in on STT. Buckingham Research upped their price target on shares of State Street from $124.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America increased their price objective on shares of State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Jefferies Group reissued a “hold” rating and issued a $107.00 price objective on shares of State Street in a research note on Tuesday, January 9th. Finally, Citigroup raised shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.88.

Shares of State Street (STT) traded up $3.19 during trading on Tuesday, hitting $112.18. 3,373,100 shares of the stock were exchanged, compared to its average volume of 1,780,927. State Street has a 12 month low of $74.45 and a 12 month high of $112.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $42,060.00, a P/E ratio of 19.41, a PEG ratio of 1.41 and a beta of 1.35.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.14. State Street had a net margin of 20.56% and a return on equity of 13.03%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. equities analysts predict that State Street will post 6.27 earnings per share for the current year.

In other State Street news, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total value of $296,448.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total transaction of $2,315,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,724 shares of company stock valued at $2,659,741. Corporate insiders own 0.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in STT. Denali Advisors LLC increased its position in shares of State Street by 267.3% during the fourth quarter. Denali Advisors LLC now owns 45,600 shares of the asset manager’s stock worth $4,451,000 after buying an additional 33,185 shares during the period. Pratt Collard Advisory Partners LLC acquired a new stake in shares of State Street during the fourth quarter worth $494,000. CENTRAL TRUST Co increased its position in shares of State Street by 4.4% during the fourth quarter. CENTRAL TRUST Co now owns 15,583 shares of the asset manager’s stock worth $1,521,000 after buying an additional 661 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in shares of State Street by 13.6% during the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,534 shares of the asset manager’s stock worth $443,000 after buying an additional 542 shares during the period. Finally, James Investment Research Inc. increased its position in shares of State Street by 5.6% during the fourth quarter. James Investment Research Inc. now owns 18,700 shares of the asset manager’s stock worth $1,825,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 88.11% of the company’s stock.

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State Street Company Profile

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

Analyst Recommendations for State Street (NYSE:STT)