State Street (NYSE:STT) had its price objective decreased by stock analysts at Wells Fargo & Co from $92.00 to $82.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 26.08% from the stock’s current price.

Several other research analysts have also commented on STT. Zacks Investment Research lowered shares of State Street from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. ValuEngine lowered shares of State Street from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Wolfe Research assumed coverage on shares of State Street in a research note on Tuesday, September 25th. They set a “market perform” rating for the company. UBS Group boosted their price objective on shares of State Street from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Barclays reduced their price objective on shares of State Street from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. State Street presently has a consensus rating of “Hold” and a consensus price target of $100.40.

NYSE STT opened at $65.04 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $25.74 billion, a P/E ratio of 10.91, a PEG ratio of 0.99 and a beta of 1.35. State Street has a 52 week low of $63.40 and a 52 week high of $114.27.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, October 19th. The asset manager reported $1.87 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.02). The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.02 billion. State Street had a return on equity of 14.99% and a net margin of 19.90%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 EPS. Research analysts forecast that State Street will post 7.42 earnings per share for the current fiscal year.

In other State Street news, EVP Louis D. Maiuri acquired 740 shares of the company’s stock in a transaction dated Wednesday, October 24th. The shares were acquired at an average cost of $67.60 per share, with a total value of $50,024.00. Following the acquisition, the executive vice president now directly owns 45,314 shares of the company’s stock, valued at $3,063,226.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Saint-Aignan Patrick De acquired 500 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was acquired at an average cost of $68.62 per share, for a total transaction of $34,310.00. Following the completion of the acquisition, the director now directly owns 25,138 shares in the company, valued at $1,724,969.56. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. boosted its holdings in shares of State Street by 234.8% in the 3rd quarter. Marshall Wace North America L.P. now owns 365,638 shares of the asset manager’s stock valued at $30,633,000 after acquiring an additional 256,428 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its holdings in shares of State Street by 1,038.7% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 322 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of State Street by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 26,171,489 shares of the asset manager’s stock valued at $2,192,648,000 after acquiring an additional 910,041 shares during the last quarter. Morgan Stanley boosted its holdings in shares of State Street by 0.6% in the 3rd quarter. Morgan Stanley now owns 1,141,882 shares of the asset manager’s stock valued at $95,667,000 after acquiring an additional 6,617 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of State Street by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 1,755,009 shares of the asset manager’s stock valued at $147,047,000 after acquiring an additional 108,537 shares during the last quarter. 87.22% of the stock is currently owned by institutional investors and hedge funds.

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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Analyst Recommendations for State Street (NYSE:STT)

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