State Street Co. (NYSE:STT) Given Consensus Recommendation of “Hold” by Analysts

State Street Co. (NYSE:STT) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $100.73.

STT has been the topic of several recent research reports. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research note on Friday, December 20th. Truist Financial decreased their target price on shares of State Street from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley dropped their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $105.00 to $120.00 in a report on Tuesday, December 3rd.

State Street Stock Down 0.2 %

Shares of STT stock opened at $99.63 on Friday. The company has a 50 day simple moving average of $98.58 and a two-hundred day simple moving average of $92.64. The stock has a market cap of $28.74 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.12 and a beta of 1.43. State Street has a 12 month low of $70.20 and a 12 month high of $103.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 EPS. On average, research analysts expect that State Street will post 9.65 earnings per share for the current year.

State Street Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.05%. State Street’s dividend payout ratio is presently 36.89%.

Insider Transactions at State Street

In other State Street news, Director Gregory L. Summe sold 10,815 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the completion of the sale, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock valued at $2,674,661 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of State Street

Several hedge funds and other institutional investors have recently bought and sold shares of STT. Albion Financial Group UT purchased a new position in State Street during the fourth quarter worth $25,000. Y.D. More Investments Ltd lifted its holdings in shares of State Street by 116.6% in the 4th quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of State Street during the 4th quarter worth about $42,000. Coppell Advisory Solutions LLC grew its holdings in State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 412 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in State Street in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

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.