Keefe, Bruyette & Woods Upgrades State Street (NYSE:STT) to Outperform

State Street (NYSE:STT) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $120.00 target price on the asset manager’s stock, up from their prior target price of $105.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 22.41% from the company’s current price.

STT has been the subject of several other reports. StockNews.com downgraded State Street from a “buy” rating to a “hold” rating in a report on Monday. Barclays increased their target price on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.68.

State Street Price Performance

Shares of STT opened at $98.03 on Tuesday. The firm has a market capitalization of $28.74 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The stock’s fifty day moving average is $92.42 and its 200-day moving average is $83.79. State Street has a one year low of $70.20 and a one year high of $99.50. 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 posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business earned $1.93 earnings per share. Equities analysts anticipate that State Street will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, 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 can be accessed through this link. Also, EVP John Plansky sold 13,859 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,460 shares of company stock worth $2,499,860 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC lifted its position in shares of State Street by 6.7% during the first quarter. Tidal Investments LLC now owns 7,135 shares of the asset manager’s stock worth $552,000 after purchasing an additional 448 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of State Street by 127.8% in the first quarter. Cetera Investment Advisers now owns 44,400 shares of the asset manager’s stock valued at $3,433,000 after acquiring an additional 24,906 shares during the period. Cetera Advisors LLC grew its stake in shares of State Street by 546.5% in the first quarter. Cetera Advisors LLC now owns 21,018 shares of the asset manager’s stock valued at $1,625,000 after acquiring an additional 17,767 shares in the last quarter. GAMMA Investing LLC increased its position in State Street by 79.1% during the second quarter. GAMMA Investing LLC now owns 1,832 shares of the asset manager’s stock worth $136,000 after acquiring an additional 809 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after purchasing an additional 148 shares in the last quarter. 87.44% of the stock is currently 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.