State Street (NYSE:STT) Given New $185.00 Price Target at BMO Capital Markets

State Street (NYSE:STT) had its price objective decreased by analysts at BMO Capital Markets from $200.00 to $185.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ target price suggests a potential upside of 11.91% from the company’s current price.

STT has been the topic of several other reports. Wells Fargo & Company upped their price target on shares of State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Barclays increased their price target on shares of State Street from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of State Street from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of State Street from $183.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group upped their target price on shares of State Street from $168.00 to $194.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, State Street presently has an average rating of “Moderate Buy” and an average target price of $189.74.

State Street Stock Down 0.2%

Shares of NYSE:STT traded down $0.41 during midday trading on Monday, reaching $165.31. The company had a trading volume of 801,822 shares, compared to its average volume of 2,133,958. State Street has a 1-year low of $111.63 and a 1-year high of $195.93. The stock has a market cap of $45.41 billion, a PE ratio of 13.50, a P/E/G ratio of 0.79 and a beta of 1.41. The company has a quick ratio of 0.59, a current ratio of 0.57 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average price is $184.20 and its 200 day moving average price is $169.89.

State Street (NYSE:STT) last announced its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.01. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.03 billion. State Street had a return on equity of 16.36% and a net margin of 15.81%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.78 EPS. Research analysts forecast that State Street will post 13.77 EPS for the current fiscal year.

Insider Activity at State Street

In other State Street news, EVP W. Hu sold 9,758 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the transaction, the executive vice president directly owned 49,794 shares of the company’s stock, valued at $9,187,988.88. This represents a 16.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total value of $2,680,226.01. Following the transaction, the chief executive officer owned 240,959 shares in the company, valued at $44,377,419.03. The trade was a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On State Street

A number of institutional investors have recently modified their holdings of STT. V Square Quantitative Management LLC raised its stake in State Street by 1.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 9,239 shares of the asset manager’s stock worth $1,613,000 after purchasing an additional 156 shares in the last quarter. Community Financial Services Group LLC boosted its holdings in State Street by 40.7% in the 3rd quarter. Community Financial Services Group LLC now owns 304 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 88 shares during the period. QRG Capital Management Inc. boosted its holdings in State Street by 14.5% in the 2nd quarter. QRG Capital Management Inc. now owns 50,753 shares of the asset manager’s stock valued at $8,608,000 after purchasing an additional 6,420 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of State Street by 106.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,859 shares of the asset manager’s stock worth $1,163,000 after purchasing an additional 3,529 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of State Street by 4.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 426,809 shares of the asset manager’s stock worth $72,387,000 after purchasing an additional 19,035 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

About State Street

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.