Keefe, Bruyette & Woods Lowers State Street (NYSE:STT) Price Target to $113.00

State Street (NYSE:STT) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $118.00 to $113.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 40.76% from the company’s current price.

Several other research analysts have also weighed in on the stock. Bank of America boosted their price objective on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Truist Financial reduced their price objective on shares of State Street from $89.00 to $85.00 and set a “hold” rating for the company in a research report on Monday. Barclays dropped their price objective on shares of State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday. Wolfe Research raised shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average price target of $102.15.

State Street Stock Down 1.2 %

STT traded down $0.98 during trading on Monday, hitting $80.28. The company had a trading volume of 1,181,265 shares, compared to its average volume of 2,178,461. The firm’s 50-day moving average price is $89.24 and its 200 day moving average price is $93.82. The company has a market capitalization of $23.17 billion, a PE ratio of 9.74, a PEG ratio of 1.11 and a beta of 1.42. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a one year low of $70.20 and a one year high of $103.00.

State Street (NYSE:STT) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period last year, the company earned $1.69 earnings per share. As a group, equities analysts expect that State Street will post 9.68 earnings per share for the current year.

Insider Buying and Selling

In other State Street news, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total value of $1,081,500.00. Following the completion of the sale, the director now directly owns 100,023 shares in the company, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company’s stock, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently bought and sold shares of STT. Albion Financial Group UT purchased a new position in State Street during the fourth quarter worth about $25,000. Y.D. More Investments Ltd grew its holdings in shares of State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of State Street during the fourth quarter valued at approximately $42,000. Coppell Advisory Solutions LLC lifted its holdings in State Street by 2,942.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock worth $42,000 after acquiring an additional 412 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 311 shares during the period. 87.44% of the stock is owned by hedge funds and other 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.