State Street’s (STT) “Hold” Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

State Street (NYSE:STTGet Free Report)‘s stock had its “hold” rating reiterated by equities research analysts at Deutsche Bank Aktiengesellschaft in a research note issued on Wednesday,Benzinga reports. They presently have a $103.00 price objective on the asset manager’s stock, down from their previous price objective of $104.00. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 4.12% from the stock’s current price.

Several other equities analysts have also recently issued reports on STT. The Goldman Sachs Group boosted their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley lowered their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial lowered their price target on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Barclays raised their price target on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Hold” and an average price target of $100.73.

Check Out Our Latest Research Report on STT

State Street Trading Up 1.3 %

STT opened at $98.93 on Wednesday. State Street has a 12 month low of $70.20 and a 12 month high of $101.91. The stock has a fifty day moving average price of $97.74 and a 200-day moving average price of $89.90. The firm has a market cap of $29.00 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.06 and a beta of 1.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STTGet Free Report) last announced its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating the consensus estimate of $2.29 by $0.31. State Street had a net margin of 12.14% and a return on equity of 12.60%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. During the same period last year, the firm posted $2.04 EPS. State Street’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts anticipate that State Street will post 9.57 earnings per share for the current fiscal year.

Insider Transactions at State Street

In related news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of STT. Hotchkis & Wiley Capital Management LLC boosted its holdings in State Street by 30.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,811,415 shares of the asset manager’s stock valued at $514,136,000 after purchasing an additional 1,354,560 shares during the last quarter. FMR LLC lifted its holdings in State Street by 15.8% in the third quarter. FMR LLC now owns 6,112,758 shares of the asset manager’s stock valued at $540,796,000 after acquiring an additional 833,679 shares during the last quarter. Wellington Management Group LLP grew its position in State Street by 818.1% in the third quarter. Wellington Management Group LLP now owns 518,697 shares of the asset manager’s stock worth $45,889,000 after acquiring an additional 462,201 shares during the period. National Bank of Canada FI grew its position in State Street by 99.4% in the third quarter. National Bank of Canada FI now owns 888,146 shares of the asset manager’s stock worth $78,574,000 after acquiring an additional 442,725 shares during the period. Finally, Franklin Resources Inc. increased its stake in State Street by 13.8% during the third quarter. Franklin Resources Inc. now owns 3,366,549 shares of the asset manager’s stock worth $306,116,000 after acquiring an additional 408,792 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for State Street (NYSE:STT)

Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter.