State Street (NYSE:STT) Given a $110.00 Price Target by Morgan Stanley Analysts

State Street (NYSE:STT) has been assigned a $110.00 price objective by equities researchers at Morgan Stanley in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential upside of 11.98% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded State Street from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Citigroup decreased their price target on shares of State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Evercore ISI dropped their price objective on shares of State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Barclays lowered their price target on shares of State Street from $127.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their target price on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, State Street currently has an average rating of “Hold” and a consensus price target of $102.54.

State Street Price Performance

NYSE:STT traded up $1.75 during trading hours on Tuesday, reaching $98.23. 273,027 shares of the company’s stock were exchanged, compared to its average volume of 2,116,625. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $28.01 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.45. The business’s 50-day simple moving average is $89.23 and its two-hundred day simple moving average is $94.02. State Street has a 12 month low of $70.20 and a 12 month high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same quarter last year, the business posted $1.69 EPS. Sell-side analysts expect that State Street will post 9.68 EPS for the current fiscal year.

Insider Buying and Selling at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at approximately $667,154.88. The trade was a 15.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On State Street

A number of hedge funds have recently modified their holdings of the stock. First Pacific Financial acquired a new position in shares of State Street in the 1st quarter worth approximately $25,000. Capital Analysts LLC lifted its stake in shares of State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 274 shares during the period. Y.D. More Investments Ltd boosted its holdings in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Larson Financial Group LLC increased its position in State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after purchasing an additional 118 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in State Street during the 4th quarter worth about $42,000. 87.44% of the stock is owned by institutional investors and hedge funds.

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.