State Street (NYSE:STT) had its target price raised by stock analysts at Barclays from $104.00 to $120.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the asset manager’s stock. Barclays’ price target points to a potential upside of 22.94% from the company’s current price.
A number of other equities analysts have also weighed in on STT. Jefferies Group reiterated a “hold” rating and issued a $100.00 price objective on shares of State Street in a research report on Friday, September 15th. Zacks Investment Research lowered shares of State Street from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Citigroup reissued a “neutral” rating and issued a $102.00 target price (up previously from $88.00) on shares of State Street in a report on Monday, October 9th. Royal Bank of Canada reduced their target price on State Street from $104.00 to $95.00 and set a “sector perform” rating for the company in a report on Tuesday, October 24th. Finally, Morgan Stanley raised their target price on State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.93.
State Street (STT) traded down $0.62 during trading hours on Tuesday, reaching $97.61. 930,300 shares of the company were exchanged, compared to its average volume of 1,935,467. State Street has a 1 year low of $74.45 and a 1 year high of $100.90. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61. The stock has a market cap of $35,930.00, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.35.
In other news, insider Andrew Erickson sold 354 shares of State Street stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of State Street stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $92.64, for a total value of $296,448.00. The disclosure for this sale can be found here. In the last three months, insiders sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Zions Bancorporation raised its stake in State Street by 318.0% in the 3rd quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after purchasing an additional 795 shares during the last quarter. Global X Management Co. LLC raised its stake in State Street by 203.0% in the 3rd quarter. Global X Management Co. LLC now owns 1,494 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 1,001 shares during the last quarter. Parallel Advisors LLC raised its stake in State Street by 18.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,129 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 172 shares during the last quarter. Penserra Capital Management LLC acquired a new position in State Street in the 2nd quarter valued at about $107,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in State Street in the 2nd quarter valued at about $113,000. 88.12% of the stock is owned by institutional investors and hedge funds.
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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.
