State Street (NYSE:STT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Shares of State Street have marginally outperformed the industry in the past six months. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing four quarters. New business wins, efforts to improve efficiency through its multi-year restructuring plan, synergies from GE Asset Management deal, easing margin pressure and the benefits from the new tax act are likely to aid profitability. Also, its enhanced capital deployment activities and exposure in international markets keeps us encouraged. However, declining total brokerage and other trading services revenues remains a concern. Further, mounting expenses will likely continue to hamper profitability to some extent.”

A number of other research firms have also weighed in on STT. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Tuesday, December 12th. Morgan Stanley increased their price target on shares of State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Jefferies Group reissued a “hold” rating and set a $107.00 price target on shares of State Street in a research report on Tuesday. Vining Sparks reissued a “buy” rating and set a $120.00 price target on shares of State Street in a research report on Monday. Finally, Royal Bank of Canada decreased their price target on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $101.13.

State Street (NYSE STT) traded up $1.53 during trading hours on Friday, reaching $105.78. 1,637,000 shares of the company were exchanged, compared to its average volume of 1,465,350. State Street has a 52 week low of $74.45 and a 52 week high of $105.85. The stock has a market capitalization of $39,230.00, a price-to-earnings ratio of 18.30, a PEG ratio of 1.49 and a beta of 1.35. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.61.

State Street (NYSE:STT) last released its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. State Street had a net margin of 20.56% and a return on equity of 13.03%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm earned $1.35 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. sell-side analysts predict that State Street will post 6.25 EPS for the current fiscal year.

In other news, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total transaction of $2,315,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total transaction of $296,448.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,724 shares of company stock valued at $2,659,741. Insiders own 0.71% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation increased its holdings in shares of State Street by 318.0% during the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after acquiring an additional 795 shares in the last quarter. Sabal Trust CO acquired a new position in State Street in the 3rd quarter worth approximately $201,000. Tiemann Investment Advisors LLC acquired a new position in State Street in the 3rd quarter worth approximately $204,000. Trustmark National Bank Trust Department acquired a new position in State Street in the 3rd quarter worth approximately $204,000. Finally, Janney Capital Management LLC acquired a new position in State Street in the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 88.13% of the company’s stock.

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About State Street

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

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