Deutsche Bank Aktiengesellschaft Issues Positive Forecast for State Street (NYSE:STT) Stock Price

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

Several other research firms also recently weighed in on STT. Royal Bank of Canada raised their price objective on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Barclays lifted their price target on State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI upped their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America raised their price objective on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Finally, Citigroup boosted their target price on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.96.

State Street Price Performance

State Street stock traded down $0.09 during midday trading on Monday, reaching $96.46. The company’s stock had a trading volume of 88,076 shares, compared to its average volume of 2,214,856. The stock has a market cap of $28.28 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.46. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a 52 week low of $66.86 and a 52 week high of $98.45. The business has a 50-day moving average price of $89.21 and a 200-day moving average price of $81.65.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 EPS. On average, sell-side analysts predict that State Street will post 8.38 EPS for the current year.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of State Street stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the completion of the sale, the executive vice president now directly owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of State Street

Several hedge funds have recently modified their holdings of STT. Capital International Investors grew its stake in shares of State Street by 0.5% in the 1st quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after buying an additional 31,314 shares during the period. LSV Asset Management grew its stake in State Street by 30.6% in the second 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. Metropolis Capital Ltd increased its holdings in shares of State Street by 3.9% during the third quarter. Metropolis Capital Ltd now owns 4,286,306 shares of the asset manager’s stock valued at $379,209,000 after acquiring an additional 161,466 shares in the last quarter. Cooke & Bieler LP raised its position in shares of State Street by 3.1% during the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock worth $262,795,000 after purchasing an additional 105,222 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of State Street by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock worth $224,466,000 after purchasing an additional 259,729 shares during the period. 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.