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.
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.
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.
