Brokerages Set State Street Corporation (NYSE:STT) Price Target at $125.92

State Street Corporation (NYSE:STT) has received a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $126.1667.

STT has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on State Street from $121.00 to $129.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of State Street in a report on Wednesday, October 8th. TD Cowen assumed coverage on shares of State Street in a report on Thursday, September 25th. They set a “buy” rating for the company. Zacks Research downgraded shares of State Street from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Cowen reiterated a “buy” rating on shares of State Street in a research note on Tuesday, October 21st.

State Street Trading Up 0.1%

State Street stock opened at $127.32 on Thursday. State Street has a 52 week low of $72.81 and a 52 week high of $131.36. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $35.56 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.17 and a beta of 1.44. The company has a 50 day moving average price of $118.25 and a 200 day moving average price of $112.36.

State Street (NYSE:STT) last released its earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.21. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. State Street had a return on equity of 13.37% and a net margin of 13.14%.The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.26 earnings per share. Research analysts forecast that State Street will post 9.68 EPS for the current year.

Insider Buying and Selling at State Street

In related news, EVP Michael L. Richards sold 1,500 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $117.24, for a total transaction of $175,860.00. Following the completion of the sale, the executive vice president directly owned 38,626 shares in the company, valued at approximately $4,528,512.24. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On State Street

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of State Street in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC grew its position in State Street by 166.3% in the third quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after acquiring an additional 158 shares in the last quarter. Capital Analysts LLC grew its position in State Street by 3,914.3% in the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock worth $25,000 after acquiring an additional 274 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of State Street during the 3rd quarter worth $35,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of State Street during the 3rd quarter valued at $35,000. 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.