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

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

Several other research analysts have also commented on STT. Deutsche Bank Aktiengesellschaft raised their price target on State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Evercore ISI raised their target price on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. 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 note on Monday, July 22nd. Royal Bank of Canada raised 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. Finally, The Goldman Sachs Group upped their target price on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $90.11.

State Street Stock Down 1.2 %

Shares of NYSE:STT opened at $86.65 on Monday. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.36 and a beta of 1.48. State Street has a 12-month low of $62.78 and a 12-month high of $89.49. The business has a 50-day moving average price of $83.83 and a 200 day moving average price of $78.33. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 EPS. Sell-side analysts expect that State Street will post 8.17 EPS for the current year.

Institutional Investors Weigh In On State Street

Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV grew its position in shares of State Street by 117.5% in the 4th quarter. KBC Group NV now owns 162,516 shares of the asset manager’s stock valued at $12,589,000 after buying an additional 87,811 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in State Street by 47.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,174 shares of the asset manager’s stock valued at $866,000 after acquiring an additional 3,591 shares in the last quarter. NEOS Investment Management LLC grew its holdings in shares of State Street by 17.4% during the fourth quarter. NEOS Investment Management LLC now owns 4,375 shares of the asset manager’s stock worth $339,000 after purchasing an additional 647 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of State Street by 9.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 44,616 shares of the asset manager’s stock worth $3,456,000 after purchasing an additional 3,802 shares in the last quarter. Finally, Morningstar Investment Management LLC purchased a new stake in shares of State Street in the 4th quarter valued at about $779,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.