Morgan Stanley Increases State Street (NYSE:STT) Price Target to $90.00

State Street (NYSE:STT) had its price target hoisted by analysts at Morgan Stanley from $89.00 to $90.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 23.25% from the company’s previous close.

STT has been the topic of a number of other research reports. Royal Bank of Canada raised their price objective on shares of State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. UBS Group raised their price objective on shares of State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods cut their target price on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Barclays lifted their target price on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of State Street from $79.50 to $80.50 in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.04.

State Street Stock Performance

Shares of NYSE STT opened at $73.02 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. The company’s fifty day moving average price is $73.98 and its 200 day moving average price is $72.36. The company has a market capitalization of $22.05 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. State Street has a 1 year low of $62.78 and a 1 year high of $79.90.

State Street (NYSE:STT) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $2.07 earnings per share. State Street’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts predict that State Street will post 7.85 earnings per share for the current year.

Insider Activity at State Street

In related news, EVP Anthony Bisegna sold 2,606 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the completion of the transaction, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Anthony Bisegna sold 2,606 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the transaction, the executive vice president now owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the sale, the chief financial officer now owns 149,063 shares of the company’s stock, valued at approximately $11,015,755.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,864 shares of company stock valued at $1,390,597. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On State Street

Several large investors have recently made changes to their positions in the business. Dagco Inc. purchased a new position in State Street during the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new position in State Street in the fourth quarter worth approximately $27,000. Venturi Wealth Management LLC raised its position in shares of State Street by 92.5% in the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of State Street during the 4th quarter worth $35,000. Finally, Norwood Financial Corp bought a new position in shares of State Street in the first quarter worth about $35,000. Institutional investors own 87.44% of the company’s stock.

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, 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.