Wolfe Research assumed coverage on shares of State Street (NYSE:STT) in a research note issued to investors on Tuesday, The Fly reports. The firm set a “market perform” rating on the asset manager’s stock.

STT has been the topic of a number of other research reports. Zacks Investment Research cut State Street from a “buy” rating to a “hold” rating in a report on Monday, May 28th. Bank of America lowered their target price on State Street from $104.00 to $97.00 and set a “neutral” rating on the stock in a report on Wednesday, July 25th. ValuEngine upgraded State Street from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Sandler O’Neill reiterated a “hold” rating on shares of State Street in a report on Friday, July 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $91.00 target price on shares of State Street in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. State Street currently has an average rating of “Hold” and an average price target of $105.71.

NYSE:STT traded up $0.05 during trading hours on Tuesday, reaching $87.10. 8,566 shares of the company traded hands, compared to its average volume of 2,359,506. The stock has a market cap of $32.47 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52. State Street has a 1-year low of $82.43 and a 1-year high of $114.27.

State Street (NYSE:STT) last announced its earnings results on Friday, July 20th. The asset manager reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.13). The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.05 billion. State Street had a net margin of 19.56% and a return on equity of 14.98%. State Street’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 EPS. equities research analysts predict that State Street will post 7.66 earnings per share for the current fiscal year.

In other news, CEO Joseph L. Hooley sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $83.01, for a total transaction of $2,075,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP George E. Sullivan sold 1,611 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $83.18, for a total value of $134,002.98. Following the sale, the executive vice president now owns 58,847 shares in the company, valued at approximately $4,894,893.46. The disclosure for this sale can be found here. Insiders have sold 26,954 shares of company stock worth $2,237,777 in the last 90 days. Insiders own 0.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont boosted its holdings in State Street by 15.8% in the second quarter. Trust Co. of Vermont now owns 4,252 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 580 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in State Street by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 35,179 shares of the asset manager’s stock valued at $3,275,000 after acquiring an additional 604 shares during the last quarter. IFP Advisors Inc boosted its holdings in State Street by 17.8% in the second quarter. IFP Advisors Inc now owns 4,200 shares of the asset manager’s stock valued at $391,000 after acquiring an additional 635 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in State Street by 36.1% in the second quarter. SRS Capital Advisors Inc. now owns 2,431 shares of the asset manager’s stock valued at $226,000 after acquiring an additional 645 shares during the last quarter. Finally, Dowling & Yahnke LLC raised its position in State Street by 2.9% in the second quarter. Dowling & Yahnke LLC now owns 23,526 shares of the asset manager’s stock valued at $2,190,000 after purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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; 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.

See Also: The Role of a Fiduciary and Individual Investors

The Fly

Analyst Recommendations for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.