Analysts Set State Street Co. (NYSE:STT) PT at $98.36

Shares of State Street Co. (NYSE:STT) have been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $98.36.

A number of brokerages have commented on STT. Wells Fargo & Company upped their price target on State Street from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. StockNews.com lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Friday, December 27th. The Goldman Sachs Group lifted their price target on shares of State Street from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Friday, December 20th.

State Street Stock Performance

STT opened at $98.15 on Thursday. The company’s 50 day moving average is $96.72 and its 200 day moving average is $87.57. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.24 and a beta of 1.44. State Street has a 12-month low of $70.20 and a 12-month high of $101.91.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a net margin of 9.87% and a return on equity of 12.02%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 EPS. On average, equities research analysts predict that State Street will post 8.42 EPS for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.10%. State Street’s payout ratio is 48.03%.

Insider Transactions at State Street

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares in the company, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the transaction, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On State Street

Large investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of State Street by 20.5% in the 3rd quarter. KBC Group NV now owns 74,680 shares of the asset manager’s stock worth $6,607,000 after purchasing an additional 12,707 shares during the period. Asset Management One Co. Ltd. lifted its position in 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 buying an additional 20,183 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in State Street by 39.3% during the second 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. LSV Asset Management increased its position in State Street by 30.6% during the second quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after acquiring an additional 1,238,251 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of State Street by 43.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,815 shares of the asset manager’s stock valued at $6,069,000 after acquiring an additional 20,968 shares during the period. 87.44% of the stock is owned by 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.