State Street (NYSE:STT) Earns Equal Weight Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of State Street (NYSE:STTFree Report) in a report published on Wednesday, Benzinga reports. The firm currently has a $90.00 price target on the asset manager’s stock.

Several other analysts have also recently issued reports on the company. Argus increased their price objective on State Street from $84.00 to $86.00 and gave the company a buy rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. UBS Group increased their price objective on State Street from $80.00 to $82.00 and gave the company a neutral rating in a research note on Friday, April 12th. Finally, Evercore ISI increased their price objective on State Street from $85.00 to $88.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $84.04.

Check Out Our Latest Stock Analysis on STT

State Street Stock Down 1.0 %

NYSE:STT opened at $70.91 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average is $74.67 and its two-hundred day moving average is $74.69. State Street has a 52 week low of $62.78 and a 52 week high of $79.90. The stock has a market capitalization of $21.36 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47.

State Street (NYSE:STTGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. Research analysts anticipate that State Street will post 7.94 EPS for the current year.

State Street Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Monday, July 1st. State Street’s payout ratio is 51.69%.

Hedge Funds Weigh In On State Street

Several hedge funds have recently made changes to their positions in the company. Symmetry Partners LLC grew its holdings in shares of State Street by 3.5% during the first quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after purchasing an additional 130 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of State Street by 3.4% during the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after buying an additional 140 shares during the period. Tompkins Financial Corp boosted its stake 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 buying an additional 150 shares during the period. CWM LLC boosted its stake in shares of State Street by 2.6% during the first quarter. CWM LLC now owns 6,435 shares of the asset manager’s stock worth $498,000 after buying an additional 165 shares during the period. Finally, Syon Capital LLC boosted its stake in shares of State Street by 3.7% during the fourth quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock worth $367,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Company Profile

(Get Free Report)

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.

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