State Street (NYSE:STT – Get Free Report) had its price target boosted by equities research analysts at UBS Group from $70.00 to $82.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. UBS Group’s target price would suggest a potential upside of 5.37% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of State Street from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of State Street from $66.00 to $65.00 in a research report on Wednesday, October 11th. Wells Fargo & Company reissued an “overweight” rating and issued a $83.00 price target on shares of State Street in a research report on Wednesday, December 6th. StockNews.com assumed coverage on shares of State Street in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Morgan Stanley upped their target price on shares of State Street from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $79.62.
State Street Trading Down 0.8 %
State Street stock traded down $0.61 during trading on Tuesday, hitting $77.82. The company had a trading volume of 267,910 shares, compared to its average volume of 1,400,583. State Street has a 1-year low of $62.78 and a 1-year high of $94.74. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.86. The company’s 50 day simple moving average is $72.79 and its 200-day simple moving average is $70.60. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54.
State Street (NYSE:STT – Get Free Report) last posted its earnings results on Wednesday, October 18th. The asset manager reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.54). State Street had a net margin of 14.07% and a return on equity of 12.19%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $1.82 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that State Street will post 7.41 EPS for the current fiscal year.
Institutional Trading of State Street
Hedge funds have recently bought and sold shares of the company. State of Wyoming increased its stake in State Street by 51.3% during the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock valued at $45,000 after buying an additional 210 shares during the period. Covestor Ltd increased its stake in State Street by 69.2% during the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock valued at $50,000 after buying an additional 234 shares during the period. IFP Advisors Inc increased its stake in State Street by 24.9% during the 2nd quarter. IFP Advisors Inc now owns 733 shares of the asset manager’s stock valued at $54,000 after buying an additional 146 shares during the period. Savior LLC increased its stake in State Street by 90.4% during the 3rd quarter. Savior LLC now owns 857 shares of the asset manager’s stock valued at $57,000 after buying an additional 407 shares during the period. Finally, MV Capital Management Inc. increased its stake in State Street by 234.3% during the 2nd quarter. MV Capital Management Inc. now owns 916 shares of the asset manager’s stock valued at $67,000 after buying an additional 642 shares during the period. 89.62% of the stock is currently owned by institutional investors.
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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.