Brokerages Set State Street Co. (NYSE:STT) Price Target at $90.11

State Street Co. (NYSE:STT) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $91.39.

A number of research analysts have weighed in on STT shares. StockNews.com raised shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup boosted their price target on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Morgan Stanley boosted their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on State Street from $79.00 to $87.00 and gave the company a “hold” rating in a report on Monday, September 23rd.

State Street Stock Up 1.2 %

STT opened at $92.93 on Friday. The company has a market cap of $28.00 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.30 and a beta of 1.48. State Street has a twelve month low of $62.78 and a twelve month high of $94.60. The company has a 50-day moving average price of $85.33 and a 200 day moving average price of $79.35. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Sell-side analysts expect that State Street will post 8.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On State Street

A number of institutional investors have recently made changes to their positions in STT. Quarry LP acquired a new stake in shares of State Street in the fourth quarter valued at $39,000. V Square Quantitative Management LLC grew its position in State Street by 31.4% in the 4th quarter. V Square Quantitative Management LLC now owns 7,015 shares of the asset manager’s stock valued at $543,000 after acquiring an additional 1,678 shares in the last quarter. Syon Capital LLC increased its stake in State Street by 3.7% during the fourth quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock worth $367,000 after purchasing an additional 168 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of State Street during the fourth quarter worth about $479,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of State Street in the fourth quarter valued at approximately $81,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.