State Street (NYSE:STT) Price Target Raised to $127.00

State Street (NYSE:STT) had its target price boosted by equities research analysts at Barclays from $108.00 to $127.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Barclays‘s price target would indicate a potential upside of 27.68% from the company’s current price.

STT has been the topic of several other research reports. Wells Fargo & Company boosted their price target on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Evercore ISI increased their target price on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $99.93.

State Street Stock Performance

NYSE:STT traded up $1.80 during mid-day trading on Monday, hitting $99.47. 549,339 shares of the company traded hands, compared to its average volume of 1,162,389. The stock’s fifty day moving average price is $96.99 and its 200-day moving average price is $88.04. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a one year low of $70.20 and a one year high of $101.91. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. State Street’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts anticipate that State Street will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STT. Neville Rodie & Shaw Inc. increased its position in State Street by 337.3% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 18,150 shares of the asset manager’s stock worth $1,782,000 after purchasing an additional 14,000 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of State Street by 21.2% in the 4th quarter. Nordea Investment Management AB now owns 2,180,504 shares of the asset manager’s stock valued at $214,998,000 after purchasing an additional 381,260 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of State Street by 28.4% during the 4th quarter. GAMMA Investing LLC now owns 3,202 shares of the asset manager’s stock worth $314,000 after purchasing an additional 709 shares during the period. Versant Capital Management Inc increased its position in shares of State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after purchasing an additional 197 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in State Street by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 346,252 shares of the asset manager’s stock valued at $30,633,000 after buying an additional 4,052 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

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.