State Street Co. (NYSE:STT) Receives $84.04 Average PT from Analysts

Shares of State Street Co. (NYSE:STT) have been given an average rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $84.04.

A number of research firms have commented on STT. Argus upped their target price on shares of State Street from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Evercore ISI raised their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Morgan Stanley raised their price objective on shares of State Street from $89.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group raised their price objective 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. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd.

State Street Trading Up 1.6 %

NYSE STT opened at $74.51 on Friday. The firm’s 50-day moving average is $74.01 and its two-hundred day moving average is $72.60. State Street has a 12 month low of $62.78 and a 12 month high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market capitalization of $22.50 billion, a P/E ratio of 13.95, a PEG ratio of 1.30 and a beta of 1.52.

State Street (NYSE:STT) last posted its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. State Street had a net margin of 9.62% and a return on equity of 12.03%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. State Street’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that State Street will post 7.93 earnings per share for the current year.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.70%. State Street’s payout ratio is 51.69%.

Insider Activity

In other news, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total value of $190,238.00. Following the transaction, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Eric W. Aboaf sold 12,000 shares of State Street stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Anthony Bisegna sold 2,606 shares of State Street stock in a transaction on Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the completion of the transaction, the executive vice president now owns 17,737 shares in the company, valued at $1,294,801. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On State Street

Hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in State Street in the 4th quarter valued at $27,000. Venturi Wealth Management LLC grew its position in State Street by 92.5% in the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in State Street in the 4th quarter valued at $35,000. Norwood Financial Corp purchased a new position in State Street in the 1st quarter valued at $35,000. Finally, Accent Capital Management LLC purchased a new stake in shares of State Street during the 4th quarter worth $39,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.