State Street (NYSE:STT) PT Raised to $106.00

State Street (NYSE:STT) had its target price upped by Wells Fargo & Company from $98.00 to $106.00 in a research note released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the asset manager’s stock.

STT has been the subject of a number of other research reports. The Goldman Sachs Group lifted 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. Deutsche Bank Aktiengesellschaft lifted their price objective on State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Wolfe Research restated an “underperform” rating and set a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Morgan Stanley lifted their target price on State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Citigroup raised their price objective on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.39.

State Street Stock Performance

NYSE STT opened at $91.43 on Wednesday. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.29 and a beta of 1.48. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street has a twelve month low of $62.78 and a twelve month high of $94.60. The stock has a fifty day simple moving average of $85.89 and a 200 day simple moving average of $79.56.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 11.78% and a net margin of 8.98%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company earned $1.93 earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. Sell-side analysts expect that State Street will post 8.15 EPS for the current year.

Institutional Investors Weigh In On State Street

Several hedge funds and other institutional investors have recently made changes to their positions in STT. Capital International Investors increased its holdings in State Street by 0.5% during the 1st quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock worth $512,381,000 after purchasing an additional 31,314 shares in the last quarter. LSV Asset Management boosted its position in shares of State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Metropolis Capital Ltd grew its holdings in State Street by 13.1% during the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock worth $305,238,000 after buying an additional 479,205 shares in the last quarter. Cooke & Bieler LP raised its position in State Street by 3.1% in the 2nd quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after buying an additional 105,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in State Street by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after acquiring an additional 259,729 shares in the last quarter. 87.44% of the stock is owned by institutional investors.

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.