State Street (NYSE:STT) Price Target Raised to $108.00

State Street (NYSE:STT) had its target price boosted by Wells Fargo & Company from $106.00 to $108.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a report on Monday, November 11th. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays boosted their price objective on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.11.

State Street Stock Performance

NYSE STT opened at $95.48 on Friday. The company has a market cap of $27.99 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day moving average price is $90.00 and its 200-day moving average price is $82.26. State Street has a fifty-two week low of $68.92 and a fifty-two week high of $98.45.

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

Insider Transactions at State Street

In other news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the transaction, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of State Street by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,169,070 shares of the asset manager’s stock worth $632,111,000 after acquiring an additional 41,442 shares in the last quarter. Capital International Investors increased its position in State Street by 0.5% during the 1st quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after buying an additional 31,314 shares in the last quarter. FMR LLC increased its position in State Street by 15.8% during the 3rd quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after buying an additional 833,679 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in State Street by 30.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after buying an additional 1,354,560 shares in the last quarter. Finally, LSV Asset Management increased its position in State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

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.