State Street (NYSE:STT) Price Target Raised to $192.50

State Street (NYSE:STT) had its price objective lifted by JPMorgan Chase & Co. from $187.50 to $192.50 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other analysts have also recently weighed in on the company. Citigroup dropped their price objective on State Street from $212.00 to $190.00 and set a “buy” rating for the company in a report on Friday, October 16th. Weiss Ratings lowered shares of State Street from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, October 6th. Wells Fargo & Company increased their price target on shares of State Street from $196.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Royal Bank Of Canada dropped their price objective on State Street from $196.00 to $175.00 and set a “sector perform” rating for the company in a report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods raised their price target on shares of State Street from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, State Street has an average rating of “Moderate Buy” and an average target price of $190.03.

State Street Price Performance

Shares of NYSE STT opened at $169.63 on Friday. The business has a 50-day simple moving average of $180.18 and a two-hundred day simple moving average of $158.73. State Street has a fifty-two week low of $111.63 and a fifty-two week high of $195.93. The company has a market cap of $46.15 billion, a PE ratio of 13.85, a P/E/G ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.59 and a current ratio of 0.59.

State Street (NYSE:STT) last posted its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 EPS for the quarter, beating the consensus estimate of $3.68 by $0.01. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.03 billion. State Street had a net margin of 15.81% and a return on equity of 16.11%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.78 earnings per share. As a group, equities analysts expect that State Street will post 13.77 EPS for the current fiscal year.

Insider Activity at State Street

In other State Street news, CEO Ronald O’Hanley sold 14,554 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $164.60, for a total value of $2,395,588.40. Following the completion of the sale, the chief executive officer directly owned 215,905 shares of the company’s stock, valued at $35,537,963. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $168.63, for a total transaction of $1,197,104.37. Following the completion of the sale, the executive vice president directly owned 42,695 shares of the company’s stock, valued at approximately $7,199,657.85. This represents a 14.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On State Street

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Philadelphia Investment Partners LLC purchased a new stake in shares of State Street during the second quarter valued at $26,000. Bell Investment Advisors Inc purchased a new position in shares of State Street during the 2nd quarter worth approximately $28,000. Elevation Wealth Partners LLC boosted its stake in State Street by 153.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Continuum Advisory LLC acquired a new position in shares of State Street in the 2nd quarter valued at approximately $30,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of State Street during the second quarter valued at $33,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Trending Headlines about State Street

Here are the key news stories impacting State Street this week:

• Positive Sentiment: JPMorgan raised its price target for State Street from $187.50 to $192.50, implying meaningful potential upside from recent trading levels. However, the firm maintained a “neutral” rating, limiting the bullish impact. JPMorgan analyst action
• Neutral Sentiment: Barclays reiterated a “hold” view on STT. The lack of a positive rating change suggests analysts remain cautious despite State Street’s recent earnings beat and year-over-year revenue growth. Barclays hold rating
• Neutral Sentiment: State Street Global Advisors and affiliated entities reported changes to, or exits from, substantial holdings in several Australian-listed companies, including Deterra Royalties, Sims, Greatland Resources, Pantoro Gold, and Downer EDI. These portfolio disclosures appear routine and have limited direct implications for STT’s earnings.
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of State Street investors. The announcement does not establish wrongdoing, but the possibility of litigation adds a reputational and legal overhang to the shares. Pomerantz investor investigation
• Negative Sentiment: Executive Vice President W. Bradford Hu sold 7,099 shares worth approximately $1.2 million, reducing his position by 14.26%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than discretionary insider selling, but it may still weigh modestly on sentiment. State Street insider sale

State Street Company Profile

State Street Corporation is a financial services holding company headquartered in Boston, Massachusetts. Founded in 1792, it provides services primarily to institutional investors, including asset owners, asset managers, insurance companies, official institutions and other financial organizations.

The company’s businesses include investment servicing, asset management, securities finance, foreign exchange, and trading and research services. Through its servicing operations, State Street provides custody, fund accounting, administration, investment operations, transfer agency and related support.