Keefe, Bruyette & Woods Lowers State Street (NYSE:STT) Price Target to $113.00

State Street (NYSE:STT) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $118.00 to $113.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 40.76% from the stock’s current price.

Several other analysts have also recently weighed in on STT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $103.00 price target (down previously from $104.00) on shares of State Street in a report on Wednesday, January 22nd. Evercore ISI decreased their price target on shares of State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Morgan Stanley cut their target price on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Bank of America lifted their price target on State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Finally, Barclays decreased their price objective on State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $102.15.

State Street Stock Performance

Shares of NYSE:STT traded down $0.98 during trading on Monday, hitting $80.28. 1,181,265 shares of the company were exchanged, compared to its average volume of 2,178,461. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a market cap of $23.17 billion, a PE ratio of 9.74, a P/E/G ratio of 1.11 and a beta of 1.42. The stock has a 50 day moving average of $89.24 and a 200 day moving average of $93.82.

State Street (NYSE:STT) last announced its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the prior year, the firm posted $1.69 earnings per share. As a group, equities research analysts predict that State Street will post 9.68 EPS for the current year.

Insider Activity at State Street

In other news, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of State Street

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of State Street during the 4th quarter valued at about $161,021,000. Price T Rowe Associates Inc. MD grew its position in State Street by 236.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager’s stock worth $226,642,000 after purchasing an additional 1,622,408 shares during the period. FMR LLC raised its stake in State Street by 14.2% during the 4th quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock valued at $685,441,000 after buying an additional 870,849 shares during the last quarter. Azora Capital LP purchased a new position in shares of State Street in the 4th quarter worth $80,294,000. Finally, Northern Trust Corp grew its holdings in shares of State Street by 15.7% in the fourth quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock worth $407,166,000 after acquiring an additional 563,790 shares during the period. Institutional investors own 87.44% of the company’s stock.

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.