State Street (NYSE:STT) Coverage Initiated at Truist Financial

Analysts at Truist Financial assumed coverage on shares of State Street (NYSE:STT) in a report released on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $106.00 price target on the asset manager’s stock. Truist Financial’s target price indicates a potential upside of 8.52% from the company’s previous close.

A number of other equities analysts also recently issued reports on STT. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Barclays lifted their price objective on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, State Street presently has an average rating of “Hold” and an average target price of $100.33.

State Street Stock Down 0.0 %

Shares of State Street stock opened at $97.68 on Tuesday. State Street has a 52-week low of $70.20 and a 52-week high of $101.91. The stock has a market capitalization of $28.63 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The company has a 50-day simple moving average of $97.29 and a two-hundred day simple moving average of $88.47. 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 issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. State Street’s revenue was up 21.1% on a year-over-year basis. On average, analysts anticipate that State Street will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $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 quarter, insiders have sold 26,460 shares of company stock valued at $2,499,860. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV lifted its holdings in shares of State Street by 20.5% during the third quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after purchasing an additional 12,707 shares during the period. Asset Management One Co. Ltd. boosted its holdings in State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock valued at $12,124,000 after purchasing an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of State Street by 39.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock valued at $10,794,000 after buying an additional 41,180 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in State Street by 43.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after acquiring an additional 20,968 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in State Street by 118.9% during the third 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 during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Company Profile

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.