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

State Street (NYSE:STT) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $90.00 to $95.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

STT has been the subject of several other reports. Evercore ISI raised their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. StockNews.com upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $91.96.

State Street Price Performance

Shares of NYSE STT opened at $94.18 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $27.61 billion, a PE ratio of 14.88, a P/E/G ratio of 1.18 and a beta of 1.46. The stock has a fifty day moving average price of $89.58 and a 200 day moving average price of $81.89. State Street has a 1-year low of $68.92 and a 1-year high of $98.45.

State Street (NYSE:STT) last issued its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 earnings per share. Sell-side analysts forecast that State Street will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other State Street news, EVP John Plansky sold 13,859 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total transaction of $1,265,603.88. Following the sale, the executive vice president now directly owns 55,108 shares of the company’s stock, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On State Street

A number of institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its holdings in State Street by 11.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,282 shares of the asset manager’s stock valued at $640,000 after acquiring an additional 839 shares during the last quarter. Empowered Funds LLC boosted its stake in State Street by 14.9% in the 1st quarter. Empowered Funds LLC now owns 3,831 shares of the asset manager’s stock worth $296,000 after buying an additional 498 shares during the last quarter. Sei Investments Co. grew its holdings in State Street by 1.3% in the 1st quarter. Sei Investments Co. now owns 436,800 shares of the asset manager’s stock valued at $33,773,000 after buying an additional 5,668 shares during the period. NorthRock Partners LLC acquired a new position in shares of State Street during the 1st quarter valued at about $206,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of State Street by 63.7% during the 1st quarter. Russell Investments Group Ltd. now owns 440,621 shares of the asset manager’s stock worth $34,054,000 after acquiring an additional 171,440 shares during the period. 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.