State Street (STT) Receives a Hold from J.P. Morgan


In a report released today, Vivek Juneja from J.P. Morgan maintained a Hold rating on State Street (STT), with a price target of $63.00. The company’s shares closed last Wednesday at $57.22.

Juneja has an average return of 15.7% when recommending State Street.

According to TipRanks.com, Juneja is ranked #183 out of 6520 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for State Street with a $66.73 average price target.

See today’s analyst top recommended stocks >>

Based on State Street’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.78 billion and net profit of $634 million. In comparison, last year the company earned revenue of $2.66 billion and had a net profit of $508 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The company operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics. The Investment Management business provides services through State Street Global Advisors, which provides a broad array of investment management, investment research and investment advisory services to corporations, public funds and other sophisticated investors. It offers strategies for managing financial assets, including passive and active, such as enhanced indexing, using quantitative and fundamental methods for both the U.S. and global equities and fixed-income securities. The company was founded in 1969 and is headquartered in Boston, MA.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts