Equities researchers at Wolfe Research started coverage on shares of State Street (NYSE:STT) in a research note issued on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the asset manager’s stock.
A number of other brokerages have also recently issued reports on STT. Deutsche Bank decreased their target price on State Street from $116.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 29th. Sandler O’Neill reissued a “hold” rating on shares of State Street in a research report on Friday, July 13th. ValuEngine raised State Street from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. Keefe, Bruyette & Woods cut State Street from an “outperform” rating to a “market perform” rating and set a $91.00 target price for the company. in a research report on Thursday, August 2nd. Finally, Bank of America decreased their target price on State Street from $104.00 to $97.00 and set a “neutral” rating for the company in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. State Street presently has a consensus rating of “Hold” and a consensus target price of $105.71.
Shares of NYSE STT traded up $0.05 during trading hours on Tuesday, reaching $87.10. The stock had a trading volume of 8,566 shares, compared to its average volume of 2,359,506. The stock has a market cap of $32.47 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.20. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.54. State Street has a fifty-two week low of $82.43 and a fifty-two week high of $114.27.
In other State Street news, insider Jeff D. Conway sold 343 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $83.16, for a total transaction of $28,523.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph L. Hooley sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.01, for a total value of $2,075,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,954 shares of company stock valued at $2,237,777 over the last ninety days. 0.40% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of State Street during the 2nd quarter worth approximately $109,000. Adviser Investments LLC purchased a new position in shares of State Street during the 1st quarter worth approximately $145,000. Delta Asset Management LLC TN purchased a new position in shares of State Street during the 2nd quarter worth approximately $142,000. Institutional & Family Asset Management LLC purchased a new position in shares of State Street during the 1st quarter worth approximately $162,000. Finally, Ostrum Asset Management purchased a new position in shares of State Street during the 1st quarter worth approximately $174,000. 86.69% 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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
Further Reading: Fundamental Analysis and Individual Investors
Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.