State Street (NYSE:STT) PT Raised to $100.00 at The Goldman Sachs Group

State Street (NYSE:STT) had its price target upped by analysts at The Goldman Sachs Group from $98.00 to $100.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 13.38% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods reduced their price target on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Citigroup raised their price objective on State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Barclays upped their target price on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Wolfe Research restated an “underperform” rating and issued a $73.00 price target on shares of State Street in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.61.

State Street Trading Up 0.1 %

Shares of STT opened at $88.20 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.54. State Street has a 1-year low of $62.78 and a 1-year high of $89.49. The stock has a market cap of $26.57 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.48. The firm has a 50 day simple moving average of $83.61 and a 200-day simple moving average of $77.93.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 earnings per share. Equities analysts forecast that State Street will post 8.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STT. Capital International Investors raised its position in State Street by 0.5% in the first quarter. Capital International Investors now owns 6,626,753 shares of the asset manager’s stock valued at $512,381,000 after purchasing an additional 31,314 shares during the period. LSV Asset Management raised its position in State Street by 30.6% in the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after purchasing an additional 1,238,251 shares during the period. Metropolis Capital Ltd raised its position in State Street by 13.1% in the second quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after purchasing an additional 479,205 shares during the period. Cooke & Bieler LP raised its position in State Street by 3.1% in the second quarter. Cooke & Bieler LP now owns 3,551,282 shares of the asset manager’s stock valued at $262,795,000 after purchasing an additional 105,222 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in State Street by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,033,544 shares of the asset manager’s stock valued at $224,466,000 after purchasing an additional 259,729 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.