State Street (NYSE:STT) PT Raised to $100.00

State Street (NYSE:STT) had its target price hoisted by Morgan Stanley from $93.00 to $100.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target would suggest a potential upside of 13.43% from the stock’s previous close.

Other research analysts have also issued reports about the company. Royal Bank of Canada raised their price target on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their target price on State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Barclays lifted their target price on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Wolfe Research restated an “underperform” rating and issued a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Finally, The Goldman Sachs Group raised their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.11.

State Street Trading Down 0.0 %

State Street stock traded down $0.04 during mid-day trading on Monday, hitting $88.16. The company’s stock had a trading volume of 784,859 shares, compared to its average volume of 2,220,740. State Street has a 1 year low of $62.78 and a 1 year high of $89.49. The stock’s fifty day moving average is $83.69 and its two-hundred day moving average is $78.11. The firm has a market capitalization of $26.56 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.48. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $2.17 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that State Street will post 8.15 EPS for the current year.

Institutional Trading of State Street

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management raised its stake in shares of State Street by 30.6% during the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock worth $390,897,000 after buying an additional 1,238,251 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of State Street by 541.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after buying an additional 634,422 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of State Street by 430.5% in the 1st quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock worth $56,841,000 after acquiring an additional 596,567 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of State Street by 57.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock worth $121,145,000 after acquiring an additional 573,016 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of State Street by 168.7% in the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after acquiring an additional 507,270 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

About State Street

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.