State Street (NYSE:STT) Price Target Raised to $100.00 at Morgan Stanley

State Street (NYSE:STT) had its price target upped by Morgan Stanley from $93.00 to $100.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price suggests a potential upside of 15.41% from the company’s current price.

A number of other research analysts have also issued reports on the company. Citigroup boosted their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada boosted their price objective 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. Wells Fargo & Company raised their target price on shares of State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Wolfe Research reiterated an “underperform” rating and set a $73.00 price target on shares of State Street in a research note on Monday, July 8th. Finally, The Goldman Sachs Group increased their price target on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, State Street currently has an average rating of “Hold” and an average price target of $90.11.

State Street Trading Down 1.2 %

Shares of State Street stock opened at $86.65 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $25.88 billion, a P/E ratio of 16.23, a PEG ratio of 1.36 and a beta of 1.48. State Street has a 1 year low of $62.78 and a 1 year high of $89.49. The company’s fifty day moving average is $83.83 and its two-hundred day moving average is $78.33.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $2.17 earnings per share. Analysts forecast that State Street will post 8.17 earnings per share for the current year.

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of State Street in the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the 2nd quarter valued at about $27,000. Norwood Financial Corp purchased a new position in State Street during the 1st quarter valued at about $35,000. Versant Capital Management Inc raised its position in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of State Street in the fourth quarter valued at about $39,000. 87.44% of the stock is 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.