State Street Corporation (NYSE:STT) Stock Has Consensus Price Target of $190.03 According to Analysts

State Street Corporation (NYSE:STT) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $193.97.

STT has been the topic of a number of research reports. Seaport Research Partners upped their price target on shares of State Street from $209.00 to $214.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Citigroup decreased their target price on State Street from $212.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Truist Financial lowered their target price on State Street from $190.00 to $171.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. Bank of America reduced their target price on shares of State Street from $197.00 to $186.00 in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of State Street from $187.50 to $192.50 and gave the stock a “neutral” rating in a research report on Friday, October 30th.

Insider Activity at State Street

In other news, CEO Ronald O’Hanley sold 14,554 shares of State Street 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 in the company, valued at approximately $35,537,963. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 7,099 shares of the business’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 value of $1,197,104.37. Following the completion of the sale, the executive vice president owned 42,695 shares of the company’s stock, valued at approximately $7,199,657.85. This trade represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of State Street

Several large investors have recently modified their holdings of STT. BlackRock Inc. acquired a new position in State Street in the second quarter valued at about $4,139,389,000. State Street Corp increased its holdings in State Street by 1.2% in the 2nd quarter. State Street Corp now owns 13,538,311 shares of the asset manager’s stock valued at $2,296,098,000 after buying an additional 163,362 shares during the period. Regents of The University of California increased its holdings in State Street by 15.6% in the 1st quarter. Regents of The University of California now owns 10,065,118 shares of the asset manager’s stock valued at $1,273,841,000 after buying an additional 1,358,923 shares during the period. Dimensional Fund Advisors LP raised its position in shares of State Street by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,101,952 shares of the asset manager’s stock valued at $392,539,000 after buying an additional 51,754 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of State Street by 4.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,962,274 shares of the asset manager’s stock valued at $502,402,000 after buying an additional 137,798 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Up 0.3%

STT stock opened at $165.69 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average price of $177.88 and a two-hundred day moving average price of $159.67. The company has a market cap of $45.08 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.77 and a beta of 1.38. State Street has a twelve month low of $111.63 and a twelve month high of $195.93.

State Street (NYSE:STT) last announced its quarterly earnings data on Wednesday, October 14th. The asset manager reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.01. State Street had a return on equity of 16.11% and a net margin of 15.81%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business posted $2.78 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. Analysts anticipate that State Street will post 13.78 EPS for the current fiscal year.

State Street Company Profile

State Street Corporation is a financial services company headquartered in Boston, Massachusetts. Founded in 1792 as Union Bank, it has a long history serving institutional clients and is among the oldest financial institutions in the United States.

The company provides investment servicing, including custody, fund administration, accounting, and related middle- and back-office services. Its clients include asset managers, pension funds, insurers, and other financial institutions.

Through State Street Investment Management, the company also offers investment management services and investment products, including the SPDR family of exchange-traded funds.