State Street (NYSE:STT) Given New $102.00 Price Target at Morgan Stanley

State Street (NYSE:STT) had its price target lifted by Morgan Stanley from $100.00 to $102.00 in a research report sent to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

STT has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Evercore ISI upped their price target on State Street from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. 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. Royal Bank of Canada upped their target price on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Finally, Barclays lifted their price target on shares of State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.39.

State Street Stock Performance

NYSE STT opened at $92.93 on Wednesday. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.30 and a beta of 1.48. The company has a 50-day simple moving average of $85.33 and a two-hundred day simple moving average of $79.35. 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 12-month low of $62.78 and a 12-month high of $94.60.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 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 business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm earned $1.93 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities analysts forecast that State Street will post 8.15 EPS for the current year.

Institutional Trading of State Street

A number of hedge funds have recently made changes to their positions in STT. Cardinal Capital Management boosted its holdings in State Street by 1.1% in the third quarter. Cardinal Capital Management now owns 53,728 shares of the asset manager’s stock worth $4,753,000 after acquiring an additional 571 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of State Street by 20.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 19,861 shares of the asset manager’s stock worth $1,757,000 after purchasing an additional 3,368 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of State Street by 3.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 26,033 shares of the asset manager’s stock worth $2,303,000 after purchasing an additional 791 shares during the last quarter. Hummer Financial Advisory Services Inc bought a new position in State Street in the 3rd quarter worth about $212,000. Finally, Creative Planning grew its position in State Street by 13.4% during the 3rd quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock valued at $1,846,000 after purchasing an additional 2,470 shares during the last quarter. 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.