Shares of State Street Corp. (NYSE:STT) have received an average recommendation of “Hold” from the fifteen analysts that are presently covering the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.25.
Several brokerages have issued reports on STT. Credit Suisse Group AG began coverage on State Street Corp. in a research report on Tuesday. They set a “neutral” rating and a $74.00 target price on the stock. Zacks Investment Research cut State Street Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley raised State Street Corp. from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $64.00 to $84.00 in a research report on Monday, November 14th. Jefferies Group increased their target price on State Street Corp. from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, October 10th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $71.00 target price on shares of State Street Corp. in a research report on Tuesday, October 11th.
Shares of State Street Corp. (NYSE:STT) opened at 78.44 on Wednesday. The company has a market cap of $30.26 billion, a price-to-earnings ratio of 16.05 and a beta of 1.32. The company has a 50 day moving average price of $73.10 and a 200 day moving average price of $65.93. State Street Corp. has a one year low of $50.60 and a one year high of $79.27.
State Street Corp. (NYSE:STT) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.10. State Street Corp. had a return on equity of 11.59% and a net margin of 19.97%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. State Street Corp.’s revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that State Street Corp. will post $5.09 EPS for the current year.
In other State Street Corp. news, EVP Karen C. Keenan sold 1,000 shares of State Street Corp. stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $70.57, for a total transaction of $70,570.00. Following the completion of the transaction, the executive vice president now owns 48,547 shares in the company, valued at approximately $3,425,961.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey N. Carp sold 15,000 shares of State Street Corp. stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $69.26, for a total value of $1,038,900.00. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its position in State Street Corp. by 6.7% in the third quarter. D.A. Davidson & CO. now owns 134,599 shares of the company’s stock worth $9,370,000 after buying an additional 8,466 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in State Street Corp. during the third quarter worth $5,652,000. Colony Group LLC raised its position in State Street Corp. by 9.0% in the third quarter. Colony Group LLC now owns 6,411 shares of the company’s stock worth $446,000 after buying an additional 532 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in State Street Corp. by 10.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 37,536,973 shares of the company’s stock worth $2,613,699,000 after buying an additional 3,594,037 shares during the last quarter. Finally, Puzo Michael J raised its position in State Street Corp. by 20.1% in the third quarter. Puzo Michael J now owns 8,964 shares of the company’s stock worth $624,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.