Argus Increases State Street (NYSE:STT) Price Target to $86.00

State Street (NYSE:STT) had its target price upped by analysts at Argus from $84.00 to $86.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Argus’ price objective would indicate a potential upside of 17.78% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Bank of America restated an “underperform” rating and set a $81.00 price objective on shares of State Street in a report on Thursday, January 4th. Evercore ISI boosted their price target on State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. UBS Group raised their price objective on State Street from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Royal Bank of Canada upped their target price on State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.04.

State Street Trading Down 2.5 %

Shares of NYSE:STT opened at $73.02 on Monday. State Street has a 52-week low of $62.78 and a 52-week high of $79.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. The company has a market cap of $22.05 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.42 and a beta of 1.52. The stock’s 50-day moving average is $73.98 and its 200-day moving average is $72.36.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.95 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 earnings per share. Equities research analysts predict that State Street will post 7.85 earnings per share for the current year.

Insider Activity at State Street

In other State Street news, CFO Eric W. Aboaf sold 12,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other State Street news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares in the company, valued at approximately $1,717,873.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer now directly owns 149,063 shares of the company’s stock, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders sold 18,864 shares of company stock valued at $1,390,597 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On State Street

Hedge funds have recently added to or reduced their stakes in the company. Dagco Inc. acquired a new position in State Street during the 4th quarter valued at about $26,000. CVA Family Office LLC bought a new position in State Street in the fourth quarter valued at approximately $27,000. Venturi Wealth Management LLC grew its holdings in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of State Street during the 4th quarter valued at $35,000. Finally, Norwood Financial Corp acquired a new position in shares of State Street in the 1st quarter valued at $35,000. 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.