Recent Investment Analysts’ Ratings Updates for State Street (STT)

Several analysts have recently updated their ratings and price targets for State Street (NYSE: STT):

• 10/16/2024 – State Street had its price target raised by analysts at Barclays PLC from $103.00 to $108.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – State Street had its price target raised by analysts at Wells Fargo & Company from $98.00 to $106.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – State Street had its price target raised by analysts at Evercore ISI from $89.00 to $94.00. They now have an “outperform” rating on the stock.
• 10/16/2024 – State Street had its price target raised by analysts at Morgan Stanley from $100.00 to $102.00. They now have an “equal weight” rating on the stock.
• 10/16/2024 – State Street was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/30/2024 – State Street had its price target raised by analysts at Morgan Stanley from $93.00 to $100.00. They now have an “equal weight” rating on the stock.
• 9/26/2024 – State Street had its price target raised by analysts at The Goldman Sachs Group, Inc. from $98.00 to $100.00. They now have a “buy” rating on the stock.
• 9/23/2024 – State Street had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $79.00 to $87.00. They now have a “hold” rating on the stock.

State Street Trading Down 1.2 %

Shares of State Street stock opened at $91.43 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. State Street Co. has a fifty-two week low of $62.78 and a fifty-two week high of $94.60. The firm has a 50-day simple moving average of $85.89 and a two-hundred day simple moving average of $79.58. The company has a market cap of $27.54 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48.

State Street (NYSE:STT) last announced its earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business’s revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. As a group, equities analysts predict that State Street Co. will post 8.15 earnings per share for the current fiscal year.

Institutional Trading of State Street

Institutional investors have recently made changes to their positions in the company. LSV Asset Management grew its position in shares of 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in State Street by 541.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock valued at $58,117,000 after buying an additional 634,422 shares in the last quarter. SG Americas Securities LLC grew its holdings in State Street by 430.5% in the 1st quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock valued at $56,841,000 after buying an additional 596,567 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of State Street by 168.7% during the 1st quarter. Lazard Asset Management LLC now owns 807,950 shares of the asset manager’s stock worth $62,469,000 after acquiring an additional 507,270 shares during the period. Finally, Metropolis Capital Ltd boosted its position in shares of State Street by 13.1% during the 2nd quarter. Metropolis Capital Ltd now owns 4,124,840 shares of the asset manager’s stock valued at $305,238,000 after acquiring an additional 479,205 shares during the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

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.