State Street (NYSE:STT) Price Target Raised to $127.00 at Barclays

State Street (NYSE:STT) had its price target increased by research analysts at Barclays from $108.00 to $127.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price objective would suggest a potential upside of 27.68% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Evercore ISI increased their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group increased their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.93.

State Street Stock Performance

NYSE STT traded up $1.80 on Monday, reaching $99.47. 549,339 shares of the company’s stock traded hands, compared to its average volume of 1,162,389. The stock has a 50 day moving average price of $96.99 and a 200-day moving average price of $88.04. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.24 and a beta of 1.43. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $101.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Equities research analysts predict that State Street will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of State Street

Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of State Street by 20.5% during the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after buying an additional 12,707 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in State Street by 17.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after purchasing an additional 20,968 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in shares of State Street by 118.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock worth $3,775,000 after acquiring an additional 23,171 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

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.