State Street (NYSE:STT) Receives “Hold” Rating from Deutsche Bank Aktiengesellschaft

State Street (NYSE:STT)‘s stock had its “hold” rating reiterated by equities researchers at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $103.00 target price on the asset manager’s stock, down from their previous target price of $104.00. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 5.55% from the stock’s previous close.

Several other equities analysts have also commented on STT. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, January 17th. The Goldman Sachs Group raised 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. Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial cut 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, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $105.00 to $120.00 in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.73.

State Street Stock Performance

State Street stock opened at $97.58 on Wednesday. The firm’s fifty day moving average price is $97.86 and its 200-day moving average price is $90.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $28.61 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $101.91.

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

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT purchased a new position in shares of State Street during the fourth quarter valued at approximately $25,000. Coastline Trust Co bought a new stake in State Street during the third quarter valued at approximately $44,000. Friedenthal Financial bought a new stake in State Street during the fourth quarter valued at approximately $49,000. R Squared Ltd bought a new stake in State Street during the fourth quarter valued at approximately $58,000. Finally, Capital Performance Advisors LLP bought a new stake in State Street during the third quarter valued at approximately $54,000. 87.44% of the stock is owned by hedge funds and other 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; 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.