State Street (NYSE:STT) Stock Rating Reaffirmed by Royal Bank of Canada

State Street (NYSE:STT)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a report issued on Monday, Benzinga reports. They currently have a $85.00 price target on the asset manager’s stock. Royal Bank of Canada’s price target points to a potential upside of 15.04% from the company’s previous close.

STT has been the topic of a number of other research reports. Evercore ISI lifted their price target on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. UBS Group raised their target price on shares of State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 target price on shares of State Street in a research report on Wednesday, June 12th. Argus raised their price target on State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their price objective on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, State Street currently has an average rating of “Hold” and a consensus price target of $83.88.

State Street Stock Down 0.1 %

NYSE:STT traded down $0.11 during trading hours on Monday, reaching $73.89. The company’s stock had a trading volume of 98,243 shares, compared to its average volume of 2,277,375. State Street has a one year low of $62.78 and a one year high of $79.90. The business’s 50-day moving average is $74.31 and its 200-day moving average is $74.66. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $22.26 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.49.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.21. State Street had a return on equity of 12.03% and a net margin of 9.62%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. Equities research analysts predict that State Street will post 7.94 EPS for the current year.

Institutional Investors Weigh In On State Street

A number of institutional investors have recently made changes to their positions in the stock. Symmetry Partners LLC increased its position in shares of State Street by 3.5% in the 1st quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock valued at $294,000 after buying an additional 130 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of State Street by 3.4% in the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after acquiring an additional 140 shares in the last quarter. Tompkins Financial Corp raised its position in shares of State Street by 28.3% during the first quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock worth $53,000 after purchasing an additional 150 shares during the period. CWM LLC grew its position in shares of State Street by 2.6% in the 1st quarter. CWM LLC now owns 6,435 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 165 shares during the period. Finally, Syon Capital LLC grew its position in shares of State Street by 3.7% in the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 168 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

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.