State Street (NYSE:STT) Price Target Cut to $132.00 by Analysts at Morgan Stanley

State Street (NYSE:STT) had its target price lowered by equities research analysts at Morgan Stanley from $139.00 to $132.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price suggests a potential upside of 35.87% from the company’s previous close.

Other analysts have also issued research reports about the company. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays increased their target price on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.57.

State Street Stock Down 0.8 %

NYSE:STT traded down $0.80 during trading hours on Friday, hitting $97.15. 361,212 shares of the stock traded hands, compared to its average volume of 909,976. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.24 and a beta of 1.44. The firm has a 50 day moving average price of $96.84 and a 200 day moving average price of $87.64. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $101.91.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS 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 business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities research analysts anticipate that State Street will post 8.42 earnings per share for the current year.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares in the company, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street in the second quarter worth $27,000. Coastline Trust Co acquired a new position in shares of State Street in the 3rd quarter valued at approximately $44,000. Capital Performance Advisors LLP bought a new stake in shares of State Street during the 3rd quarter worth approximately $54,000. Versant Capital Management Inc boosted its holdings in shares of State Street by 37.0% in the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 197 shares in the last quarter. Finally, Tobam acquired a new position in State Street during the third quarter worth about $77,000. 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.