State Street (NYSE:STT) had its target price hoisted by stock analysts at Morgan Stanley from $114.00 to $117.00 in a research report issued on Friday. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 8.87% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $114.00 price target on shares of State Street in a report on Friday, December 22nd. Vining Sparks reissued a “buy” rating and issued a $120.00 price target on shares of State Street in a report on Monday, January 8th. Citigroup raised shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Wednesday, January 10th. Finally, Buckingham Research upped their price objective on shares of State Street from $124.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $106.69.
Shares of State Street (NYSE:STT) traded down $2.85 during trading hours on Friday, hitting $107.47. 2,500,000 shares of the company were exchanged, compared to its average volume of 1,590,000. The company has a quick ratio of 0.48, a current ratio of 0.49 and a debt-to-equity ratio of 0.61. The stock has a market cap of $39,850.00, a P/E ratio of 20.51, a P/E/G ratio of 1.83 and a beta of 1.31. State Street has a 52 week low of $75.08 and a 52 week high of $114.27.
In other news, insider Andrew Erickson sold 354 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $92.00, for a total value of $32,568.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Zions Bancorporation lifted its holdings in shares of State Street by 318.0% in the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock worth $100,000 after buying an additional 795 shares in the last quarter. Legacy Advisors LLC lifted its holdings in shares of State Street by 835.8% in the fourth quarter. Legacy Advisors LLC now owns 1,151 shares of the asset manager’s stock worth $112,000 after buying an additional 1,028 shares in the last quarter. BB&T Corp purchased a new stake in shares of State Street in the fourth quarter worth about $203,000. Sabal Trust CO purchased a new stake in shares of State Street in the third quarter worth about $201,000. Finally, Tiemann Investment Advisors LLC purchased a new stake in shares of State Street in the third quarter worth about $204,000. 88.18% of the stock is currently owned by hedge funds and other institutional investors.
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About State Street
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.
