State Street Co. (NYSE:STT) Receives $100.33 Consensus PT from Brokerages

State Street Co. (NYSE:STT) has earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $100.73.

A number of brokerages recently issued reports on STT. Wells Fargo & Company lifted their price target on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Evercore ISI lifted their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price target on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group raised their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays boosted their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th.

State Street Trading Down 1.9 %

NYSE:STT opened at $97.13 on Monday. The firm has a market capitalization of $28.47 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average of $97.82 and a 200 day moving average of $90.08. State Street has a 52 week low of $70.20 and a 52 week high of $101.91.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3,267,560 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. State Street’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.04 EPS. On average, research analysts predict that State Street will post 9.57 earnings per share for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, January 2nd. State Street’s dividend payout ratio is currently 36.89%.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On State Street

Institutional investors have recently modified their holdings of the stock. KBC Group NV grew its position in State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock valued at $6,607,000 after acquiring an additional 12,707 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of State Street by 17.3% in the third quarter. Asset Management One Co. Ltd. now owns 137,040 shares of the asset manager’s stock worth $12,124,000 after purchasing an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in State Street by 39.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,859 shares of the asset manager’s stock worth $10,794,000 after buying an additional 41,180 shares during the period. Banque Cantonale Vaudoise lifted its holdings in State Street by 118.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,667 shares of the asset manager’s stock valued at $3,775,000 after buying an additional 23,171 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in State Street by 43.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after buying an additional 20,968 shares during the period. 87.44% of the stock is 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.