Analysts Set State Street Co. (NYSE:STT) PT at $90.11

State Street Co. (NYSE:STT) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $90.11.

Several equities analysts recently commented on the company. Wolfe Research restated an “underperform” rating and set a $73.00 target price on shares of State Street in a research report on Monday, July 8th. Royal Bank of Canada boosted their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Morgan Stanley raised their target price on shares of State Street from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods cut their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Finally, Wells Fargo & Company lifted their price objective on shares of State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th.

State Street Price Performance

Shares of NYSE:STT opened at $90.99 on Friday. The company has a 50 day moving average of $84.71 and a 200 day moving average of $79.16. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. The stock has a market cap of $27.41 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.30 and a beta of 1.48. State Street has a 12 month low of $62.78 and a 12 month high of $91.14.

State Street (NYSE:STT) last released its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $2.17 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that State Street will post 8.15 EPS for the current fiscal year.

State Street Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.76 per share. The ex-dividend date was Tuesday, October 1st. This represents a $3.04 annualized dividend and a yield of 3.34%. This is a boost from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio is presently 56.93%.

Institutional Investors Weigh In On State Street

A number of large investors have recently made changes to their positions in the business. Creative Planning lifted its stake in State Street by 13.4% in the third quarter. Creative Planning now owns 20,870 shares of the asset manager’s stock worth $1,846,000 after acquiring an additional 2,470 shares during the period. Stablepoint Partners LLC bought a new stake in shares of State Street during the 3rd quarter valued at about $226,000. Woodstock Corp increased its position in shares of State Street by 10.7% during the third quarter. Woodstock Corp now owns 99,943 shares of the asset manager’s stock valued at $8,842,000 after buying an additional 9,678 shares during the period. Exchange Traded Concepts LLC raised its stake in State Street by 2,137.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,633 shares of the asset manager’s stock worth $144,000 after buying an additional 1,560 shares in the last quarter. Finally, Carnegie Investment Counsel purchased a new stake in State Street in the third quarter worth about $237,000. 87.44% of the stock is currently owned by institutional investors.

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.