State Street (NYSE:STT) Price Target Raised to $115.00 at Citigroup

State Street (NYSE:STT - Get Free Report) had its price target increased by stock analysts at Citigroup from $100.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the asset manager's stock. Citigroup's price objective would indicate a potential upside of 5.01% from the company's previous close.

Other analysts have also recently issued reports about the stock. Truist Financial raised shares of State Street from a "hold" rating to a "buy" rating and increased their target price for the stock from $85.00 to $112.00 in a report on Wednesday, May 28th. The Goldman Sachs Group set a $98.00 price objective on shares of State Street and gave the stock a "buy" rating in a research note on Thursday, April 17th. Bank of America lifted their target price on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Morgan Stanley increased their price target on State Street from $110.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Evercore ISI boosted their price objective on State Street from $102.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.69.

State Street Stock Up 2.4%

NYSE STT traded up $2.55 on Wednesday, hitting $109.51. 1,973,535 shares of the stock traded hands, compared to its average volume of 2,110,126. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average of $96.38 and a 200 day moving average of $94.29. State Street has a twelve month low of $72.65 and a twelve month high of $109.93. The company has a market capitalization of $31.23 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.06. State Street had a return on equity of 12.79% and a net margin of 12.85%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the prior year, the company posted $1.69 EPS. As a group, analysts expect that State Street will post 9.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the transaction, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at approximately $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its holdings in State Street by 1.4% in the 2nd quarter. Central Pacific Bank Trust Division now owns 21,600 shares of the asset manager's stock valued at $2,297,000 after acquiring an additional 300 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in State Street by 4.6% during the second quarter. Harbor Investment Advisory LLC now owns 5,821 shares of the asset manager's stock valued at $619,000 after purchasing an additional 255 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in State Street during the first quarter valued at approximately $1,174,000. Voya Investment Management LLC boosted its holdings in State Street by 2.5% during the first quarter. Voya Investment Management LLC now owns 132,133 shares of the asset manager's stock worth $11,830,000 after buying an additional 3,195 shares in the last quarter. Finally, First Hawaiian Bank grew its position in State Street by 1.9% in the first quarter. First Hawaiian Bank now owns 20,592 shares of the asset manager's stock worth $1,844,000 after buying an additional 391 shares during the last quarter. Institutional investors 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.