Shares of State Street Corp (NYSE:STT) reached a new 52-week low on Thursday after Credit Suisse Group lowered their price target on the stock from $88.00 to $80.00. Credit Suisse Group currently has a neutral rating on the stock. State Street traded as low as $63.40 and last traded at $64.34, with a volume of 264964 shares. The stock had previously closed at $67.81.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods set a $90.00 price target on State Street and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Wolfe Research started coverage on State Street in a research note on Tuesday, September 25th. They issued a “market perform” rating on the stock. Wells Fargo & Co set a $105.00 price objective on State Street and gave the stock a “buy” rating in a research note on Thursday, August 16th. Morgan Stanley raised State Street from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $109.00 to $115.00 in a research note on Tuesday, September 4th. Finally, Deutsche Bank cut their price objective on State Street from $102.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $100.40.

In other State Street news, EVP Louis D. Maiuri purchased 740 shares of the company’s stock in a transaction on Wednesday, October 24th. The shares were purchased at an average cost of $67.60 per share, with a total value of $50,024.00. Following the completion of the purchase, the executive vice president now owns 45,314 shares in the company, valued at $3,063,226.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Saint-Aignan Patrick De purchased 500 shares of the company’s stock in a transaction on 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 purchase, the director now owns 25,138 shares of the company’s stock, valued at approximately $1,724,969.56. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace North America L.P. lifted its stake in State Street by 234.8% in the third quarter. Marshall Wace North America L.P. now owns 365,638 shares of the asset manager’s stock valued at $30,633,000 after buying an additional 256,428 shares during the period. Strategic Wealth Partners Ltd. lifted its stake in State Street by 1,038.7% in the third quarter. Strategic Wealth Partners Ltd. now owns 353 shares of the asset manager’s stock valued at $30,000 after buying an additional 322 shares during the period. Vanguard Group Inc. lifted its stake in State Street by 3.6% in the third quarter. Vanguard Group Inc. now owns 26,171,489 shares of the asset manager’s stock valued at $2,192,648,000 after buying an additional 910,041 shares during the period. Morgan Stanley raised its position in shares of State Street by 0.6% during the third quarter. Morgan Stanley now owns 1,141,882 shares of the asset manager’s stock worth $95,667,000 after purchasing an additional 6,617 shares during the period. Finally, Legal & General Group Plc raised its position in shares of State Street by 6.6% during the third quarter. Legal & General Group Plc now owns 1,755,009 shares of the asset manager’s stock worth $147,047,000 after purchasing an additional 108,537 shares during the period. 87.22% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.97 and a beta of 1.35.

State Street (NYSE:STT) last issued its earnings results on Friday, October 19th. The asset manager reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.02). State Street had a return on equity of 14.99% and a net margin of 19.90%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the company earned $1.71 earnings per share. State Street’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that State Street Corp will post 7.39 EPS for the current fiscal year.

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State Street Company Profile (NYSE:STT)

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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