State Street (NYSE:STT)‘s stock had its “hold” rating reaffirmed by stock analysts at Sandler O’Neill in a report issued on Monday. They presently have a $104.00 price objective on the asset manager’s stock. Sandler O’Neill’s price objective points to a potential upside of 4.41% from the stock’s current price.
Several other equities analysts also recently issued reports on the stock. Deutsche Bank reduced their price target on shares of State Street from $114.00 to $108.00 and set a “hold” rating for the company in a report on Friday. Keefe, Bruyette & Woods set a $115.00 price target on shares of State Street and gave the company a “buy” rating in a report on Wednesday, April 4th. ValuEngine downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Morgan Stanley boosted their price target on shares of State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $111.33.
State Street stock traded up $2.12 during mid-day trading on Monday, reaching $99.61. The company’s stock had a trading volume of 482,313 shares, compared to its average volume of 1,821,428. The company has a market cap of $35,842.51, a PE ratio of 16.72, a P/E/G ratio of 1.27 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.49 and a quick ratio of 0.49. State Street has a twelve month low of $76.95 and a twelve month high of $114.27.
In other State Street news, CEO Joseph L. Hooley sold 33,568 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeff D. Conway sold 747 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $103.07, for a total transaction of $76,993.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,531 shares of company stock worth $5,146,169. Company insiders own 0.71% of the company’s stock.
Institutional investors have recently modified their holdings of the business. HBK Sorce Advisory LLC bought a new stake in State Street in the fourth quarter worth about $653,000. First Trust Advisors LP raised its position in State Street by 7.9% in the fourth quarter. First Trust Advisors LP now owns 254,980 shares of the asset manager’s stock worth $24,889,000 after acquiring an additional 18,704 shares in the last quarter. Deutsche Bank AG raised its position in State Street by 44.5% in the fourth quarter. Deutsche Bank AG now owns 1,075,508 shares of the asset manager’s stock worth $104,975,000 after acquiring an additional 331,230 shares in the last quarter. Baird Financial Group Inc. raised its position in State Street by 10.9% in the fourth quarter. Baird Financial Group Inc. now owns 10,348 shares of the asset manager’s stock worth $1,010,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Unio Capital LLC bought a new stake in State Street in the fourth quarter worth about $532,000. Hedge funds and other institutional investors own 88.48% of the company’s stock.
State Street Company Profile
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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