Credit Suisse Group AG initiated coverage on shares of State Street Corp. (NYSE:STT) in a research report issued on Tuesday. The firm set a “neutral” rating and a $74.00 price target on the stock. Credit Suisse Group AG’s price objective indicates a potential downside of 5.47% from the stock’s previous close.

A number of other equities analysts also recently commented on STT. Keefe, Bruyette & Woods upped their price objective on shares of State Street Corp. from $54.00 to $58.00 and gave the stock an “underperform” rating in a research report on Thursday, July 28th. Jefferies Group reiterated a “buy” rating and issued a $81.00 price target on shares of State Street Corp. in a report on Tuesday, November 1st. Morgan Stanley upgraded shares of State Street Corp. from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $64.00 to $84.00 in a report on Monday, November 14th. Barclays PLC reiterated a “buy” rating and issued a $71.00 price target on shares of State Street Corp. in a report on Tuesday, October 11th. Finally, Zacks Investment Research upgraded shares of State Street Corp. from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $72.81.

Analyst Recommendations for State Street Corp. (NYSE:STT)

State Street Corp. (NYSE:STT) opened at 78.28 on Tuesday. The firm has a 50-day moving average of $72.92 and a 200 day moving average of $65.80. The firm has a market capitalization of $30.20 billion, a price-to-earnings ratio of 16.02 and a beta of 1.32. State Street Corp. has a 12-month low of $50.60 and a 12-month high of $79.27.

State Street Corp. (NYSE:STT) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.10. The company earned $2.62 billion during the quarter, compared to the consensus estimate of $2.72 billion. State Street Corp. had a net margin of 19.97% and a return on equity of 11.59%. State Street Corp.’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. On average, equities analysts predict that State Street Corp. will post $5.09 EPS for the current year.

In other State Street Corp. news, EVP Jeffrey N. Carp sold 2,926 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $77.38, for a total transaction of $226,413.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Karen C. Keenan sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $70.57, for a total transaction of $70,570.00. Following the sale, the executive vice president now directly owns 48,547 shares in the company, valued at $3,425,961.79. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in State Street Corp. by 10.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 37,536,973 shares of the company’s stock valued at $2,613,699,000 after buying an additional 3,594,037 shares in the last quarter. Vanguard Group Inc. boosted its stake in State Street Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 22,857,482 shares of the company’s stock valued at $1,232,474,000 after buying an additional 215,857 shares in the last quarter. FMR LLC boosted its stake in State Street Corp. by 1.1% in the second quarter. FMR LLC now owns 14,399,518 shares of the company’s stock valued at $776,423,000 after buying an additional 154,343 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in State Street Corp. by 0.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 5,016,172 shares of the company’s stock valued at $270,472,000 after buying an additional 42,105 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in State Street Corp. by 0.4% in the third quarter. BlackRock Fund Advisors now owns 4,472,744 shares of the company’s stock valued at $311,437,000 after buying an additional 19,993 shares in the last quarter. 86.32% of the stock is currently owned by institutional investors.

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State Street Corp. Company Profile

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

5 Day Chart for NYSE:STT

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