State Street Corporation (NYSE:STT) Stock Rated “Moderate Buy” by Wall Street Analysts

State Street Corporation (NYSE:STT) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $193.97.

STT has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price objective on State Street from $196.00 to $175.00 and set a “sector perform” rating on the stock in a report on Thursday, October 15th. The Goldman Sachs Group lifted their price target on shares of State Street from $211.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Zacks Research cut shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Wells Fargo & Company increased their price objective on shares of State Street from $196.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Seaport Research Partners increased their price objective on shares of State Street from $209.00 to $214.00 and gave the company a “buy” rating in a report on Friday, July 17th.

State Street Stock Performance

Shares of NYSE STT opened at $165.34 on Friday. State Street has a 1 year low of $111.63 and a 1 year high of $195.93. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.59 and a current ratio of 0.59. The company’s fifty day moving average price is $178.43 and its 200 day moving average price is $159.46. The company has a market capitalization of $44.98 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38.

State Street (NYSE:STT) last posted its earnings results on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.01. State Street had a return on equity of 16.11% and a net margin of 15.81%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the firm earned $2.78 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts predict that State Street will post 13.78 earnings per share for the current year.

Insider Activity at State Street

In other State Street news, EVP W. Hu sold 7,099 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $168.63, for a total transaction of $1,197,104.37. Following the completion of the transaction, the executive vice president owned 42,695 shares of the company’s stock, valued at $7,199,657.85. This represents a 14.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ronald O’Hanley sold 14,554 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $164.60, for a total value of $2,395,588.40. Following the completion of the transaction, the chief executive officer owned 215,905 shares in the company, valued at approximately $35,537,963. This trade represents a 6.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by insiders.

Institutional Trading of State Street

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System boosted its holdings in shares of State Street by 9.7% during the first quarter. New York State Teachers Retirement System now owns 303,919 shares of the asset manager’s stock valued at $38,464,000 after acquiring an additional 26,862 shares during the period. Envestnet Asset Management Inc. grew its position in shares of State Street by 4.7% during the second quarter. Envestnet Asset Management Inc. now owns 426,809 shares of the asset manager’s stock worth $72,387,000 after acquiring an additional 19,035 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in shares of State Street by 18.3% during the first quarter. Illinois Municipal Retirement Fund now owns 85,775 shares of the asset manager’s stock worth $10,856,000 after acquiring an additional 13,245 shares during the last quarter. Compass Financial Management LLC acquired a new stake in shares of State Street in the 2nd quarter worth about $1,424,000. Finally, World Investment Advisors increased its holdings in shares of State Street by 603.0% in the 1st quarter. World Investment Advisors now owns 17,174 shares of the asset manager’s stock worth $2,174,000 after acquiring an additional 14,731 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

State Street Company Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.