State Street (NYSE:STT) Given New $95.00 Price Target at Deutsche Bank Aktiengesellschaft

State Street (NYSE:STT) had its price target increased by Deutsche Bank Aktiengesellschaft from $90.00 to $95.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

Several other research firms have also commented on STT. Evercore ISI lifted their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their price target on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Citigroup lifted their price objective on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.96.

State Street Stock Down 0.0 %

Shares of STT opened at $95.17 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $27.90 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.46. State Street has a 1 year low of $68.00 and a 1 year high of $98.45. The business’s 50 day simple moving average is $89.39 and its 200-day simple moving average is $81.80.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. State Street’s revenue was up 21.1% on a year-over-year basis. As a group, equities analysts expect that State Street will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at State Street

In other news, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in STT. LSV Asset Management increased its holdings in shares of State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares during the period. FMR LLC boosted its position in State Street by 15.8% during the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after purchasing an additional 833,679 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in State Street by 541.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after purchasing an additional 634,422 shares during the last quarter. Lazard Asset Management LLC raised its holdings in State Street by 168.7% in the first quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after purchasing an additional 507,270 shares in the last quarter. Finally, Metropolis Capital Ltd lifted its position in shares of State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after buying an additional 479,205 shares during the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.