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

Deutsche Bank Aktiengesellschaft restated their hold rating on shares of State Street (NYSE:STT) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $103.00 target price on the asset manager’s stock, down from their previous target price of $104.00.

Several other equities analysts also recently issued reports on the stock. StockNews.com downgraded shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Evercore ISI boosted their target price on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upgraded State Street from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley decreased their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.73.

State Street Trading Down 1.9 %

STT stock opened at $97.13 on Wednesday. State Street has a 1-year low of $70.20 and a 1-year high of $101.91. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $97.82 and its 200-day moving average is $90.08. The firm has a market cap of $28.47 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.06 and a beta of 1.43.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share for the quarter, beating 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 return on equity of 12.60% and a net margin of 12.14%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.04 earnings per share. Equities analysts anticipate that State Street will post 9.57 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is 36.89%.

Insider Activity at State Street

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

Institutional Investors Weigh In On State Street

A number of institutional investors have recently made changes to their positions in the stock. 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 worth $186,000 after buying an additional 129 shares during the period. Pacer Advisors Inc. increased its stake in State Street by 4.6% in the second quarter. Pacer Advisors Inc. now owns 20,939 shares of the asset manager’s stock valued at $1,549,000 after purchasing an additional 922 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in State Street by 39.3% in the second quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after purchasing an additional 41,180 shares during the period. ProShare Advisors LLC boosted its position in shares of State Street by 3.4% during the second quarter. ProShare Advisors LLC now owns 79,042 shares of the asset manager’s stock worth $5,849,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of 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 valued at $3,780,000 after buying an additional 3,499 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

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.