State Street Corporation (NYSE:STT) Stock Has Consensus Price Target of $190.44

State Street Corporation (NYSE:STT) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $193.38.

Several research analysts recently issued reports on STT shares. Evercore set a $200.00 target price on State Street in a research report on Monday, July 20th. Royal Bank Of Canada increased their price target on State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a research report on Friday, July 17th. TD Cowen began coverage on State Street in a research report on Thursday, October 8th. They issued a “buy” rating and a $205.00 price target for the company. The Goldman Sachs Group raised their price objective on State Street from $168.00 to $194.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, Morgan Stanley lifted their price objective on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 17th.

State Street Price Performance

Shares of NYSE STT opened at $173.94 on Wednesday. The stock has a market cap of $47.78 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.59. State Street has a fifty-two week low of $104.64 and a fifty-two week high of $195.93. The firm’s 50-day simple moving average is $185.34 and its 200 day simple moving average is $168.99.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.31. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 EPS. As a group, research analysts anticipate that State Street will post 13.80 earnings per share for the current fiscal year.

Insider Activity

In other State Street news, EVP W. Hu sold 9,758 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the sale, the executive vice president directly owned 49,794 shares of the company’s stock, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Hanley Ronald P. O sold 14,553 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the completion of the sale, the chief executive officer directly owned 240,959 shares of the company’s stock, valued at $44,377,419.03. The trade was a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On State Street

Hedge funds have recently modified their holdings of the company. Western Wealth Management LLC boosted its holdings in shares of State Street by 3.1% in the 1st quarter. Western Wealth Management LLC now owns 2,001 shares of the asset manager’s stock worth $253,000 after acquiring an additional 60 shares in the last quarter. CX Institutional increased its holdings in State Street by 1.0% during the 2nd quarter. CX Institutional now owns 9,788 shares of the asset manager’s stock valued at $1,660,000 after purchasing an additional 98 shares in the last quarter. Greenleaf Trust increased its holdings in State Street by 0.6% during the 2nd quarter. Greenleaf Trust now owns 17,295 shares of the asset manager’s stock valued at $2,933,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in State Street by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,024 shares of the asset manager’s stock valued at $4,053,000 after purchasing an additional 100 shares during the last quarter. Finally, Bridgewater Advisors Inc. raised its position in State Street by 5.5% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,945 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

State Street Company Profile

State Street Corporation (NYSE: STT) is a financial services company that provides institutional investors, asset managers, asset owners, insurance companies, official institutions and other organizations with investment servicing, investment management and related financial services. Its offerings include custody and fund administration, accounting, transfer agency, collateral management, securities lending, foreign exchange, trading and other capital markets services.

Through State Street Investment Management, the company manages investment strategies and offers products such as exchange-traded funds, index strategies, active strategies and other portfolio solutions.