State Street’s (STT) “Hold” Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of State Street (NYSE:STTFree Report) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $103.00 price target on the asset manager’s stock, down from their previous price target of $104.00.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial reduced their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. raised shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research report on Friday, December 20th. StockNews.com cut shares of State Street from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company upped their price objective on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.73.

Get Our Latest Report on STT

State Street Trading Up 1.6 %

Shares of State Street stock opened at $99.09 on Wednesday. The firm has a 50-day moving average of $97.93 and a 200-day moving average of $90.18. The stock has a market cap of $29.05 billion, a PE ratio of 12.03, a PEG ratio of 1.11 and a beta of 1.43. State Street has a 52-week low of $70.20 and a 52-week high of $101.91. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56.

State Street (NYSE:STTGet Free Report) last announced its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The company had revenue of $3.41 billion during 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%. State Street’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 earnings per share. As a group, sell-side analysts forecast that State Street will post 9.43 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Insider Activity

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Trading of State Street

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new stake in State Street during the 4th quarter valued at approximately $25,000. Coastline Trust Co acquired a new stake in State Street during the 3rd quarter valued at approximately $44,000. Friedenthal Financial acquired a new stake in State Street during the 4th quarter valued at approximately $49,000. R Squared Ltd acquired a new stake in State Street during the 4th quarter valued at approximately $58,000. Finally, Capital Performance Advisors LLP acquired a new stake in State Street during the 3rd quarter valued at approximately $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

About State Street

(Get Free Report)

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.

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