State Street (NYSE:STT) Stock Rating Lowered by StockNews.com

State Street (NYSE:STT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other equities analysts have also issued reports on the stock. Truist Financial dropped their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $103.00 target price (down previously from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Finally, Morgan Stanley reduced their price objective on State Street from $142.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.20.

State Street Stock Performance

STT stock opened at $89.72 on Friday. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.11 and a beta of 1.44. State Street has a 12 month low of $70.20 and a 12 month high of $103.00. The firm has a 50 day moving average of $97.91 and a two-hundred day moving average of $94.02. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 earnings per share. As a group, equities analysts anticipate that State Street will post 9.68 EPS for the current fiscal year.

Insider Buying and Selling

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On State Street

Several hedge funds and other institutional investors have recently made changes to their positions in STT. Albion Financial Group UT acquired a new stake in shares of State Street in the fourth quarter valued at approximately $25,000. Y.D. More Investments Ltd grew its position in State Street by 116.6% during the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after buying an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of State Street in the fourth quarter worth $42,000. Coppell Advisory Solutions LLC raised its position in shares of State Street by 2,942.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after buying an additional 412 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in State Street during the third quarter valued at approximately $44,000. 87.44% of the stock is owned by 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.