The Behemoth BlackRock's Next Trillion Comes From Private Assets
STT has been the topic of several other research reports. Wolfe Research upgraded shares of State Street from an "underperform" rating to a "peer perform" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $103.00 target price (down from $104.00) on shares of State Street in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upgraded State Street from a "market perform" rating to an "outperform" rating and raised their price target for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $100.73.
Check Out Our Latest Stock Analysis on State Street
Shares of NYSE:STT traded up $0.24 during trading on Thursday, hitting $97.57. 1,763,847 shares of the company's stock were exchanged, compared to its average volume of 1,940,812. The business's 50-day simple moving average is $98.57 and its 200 day simple moving average is $93.35. The company has a market cap of $28.15 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.11 and a beta of 1.43. State Street has a 52-week low of $70.20 and a 52-week high of $103.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.56 and a quick ratio of 0.56.
State Street (NYSE:STT - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the firm posted $2.04 EPS. The company's revenue was up 12.1% on a year-over-year basis. As a group, equities analysts predict that State Street will post 9.68 EPS for the current year.
In related news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director now owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Fogarty sold 3,705 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in STT. Albion Financial Group UT purchased a new position in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd grew its stake 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 worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in State Street during the 4th quarter worth $42,000. Coppell Advisory Solutions LLC raised its position in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager's stock valued at $42,000 after purchasing an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in State Street by 187.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager's stock valued at $47,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 87.44% of the company's stock.
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.
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