Deutsche Bank Aktiengesellschaft Reaffirms “Hold” Rating for State Street (NYSE:STT)

State Street (NYSE:STT)‘s stock had its “hold” rating reaffirmed by stock analysts at Deutsche Bank Aktiengesellschaft in a report issued 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. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 5.55% from the stock’s previous close.

STT has been the topic of several other research reports. Evercore ISI boosted their price objective on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group boosted their price objective 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. Barclays boosted their target price on shares of State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.73.

State Street Stock Performance

NYSE STT opened at $97.58 on Wednesday. The firm’s fifty day moving average price is $97.86 and its two-hundred day moving average price is $90.13. The stock has a market cap of $28.61 billion, a PE ratio of 11.84, a PEG 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. 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:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 earnings per share. On average, equities analysts expect that State Street will post 9.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other State Street news, EVP Kathryn M. Horgan sold 12,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STT. Benjamin F. Edwards & Company Inc. grew its position in shares of State Street by 5.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 129 shares during the period. Pacer Advisors Inc. grew its position in shares of State Street by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock valued at $1,549,000 after acquiring an additional 922 shares during the period. Ensign Peak Advisors Inc boosted its holdings in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares during the period. ProShare Advisors LLC boosted its holdings in State Street by 3.4% in the 2nd quarter. ProShare Advisors LLC now owns 79,042 shares of the asset manager’s stock worth $5,849,000 after buying an additional 2,574 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in State Street by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 51,086 shares of the asset manager’s stock worth $3,780,000 after buying an additional 3,499 shares during the period. 87.44% of the stock is 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; 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.