State Street (NYSE:STT) Price Target Raised to $115.00

State Street (NYSE:STT) had its target price boosted by Citigroup from $100.00 to $115.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other research analysts have also issued reports on the stock. Evercore ISI lifted their price target on shares of State Street from $102.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America raised their price objective on shares of State Street from $98.00 to $99.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Cfra Research lowered shares of State Street from a “moderate buy” rating to a “hold” rating in a research note on Thursday, May 29th. Finally, Barclays decreased their price objective on shares of State Street from $127.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.46.

State Street Trading Up 0.7%

State Street stock opened at $110.31 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. State Street has a 1 year low of $72.65 and a 1 year high of $110.80. The firm’s 50 day moving average price is $97.77 and its two-hundred day moving average price is $94.54.

State Street (NYSE:STT) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.06. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.85% and a return on equity of 12.79%. During the same quarter in the previous year, the business posted $1.69 earnings per share. On average, research analysts predict that State Street will post 9.68 EPS for the current fiscal year.

State Street Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, July 1st. State Street’s dividend payout ratio (DPR) is currently 34.12%.

Insider Activity

In other State Street news, CAO Elizabeth Schaefer sold 1,300 shares of State Street stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total transaction of $117,936.00. Following the completion of the sale, the chief accounting officer owned 7,354 shares of the company’s stock, valued at $667,154.88. This trade represents a 15.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On State Street

Institutional investors have recently modified their holdings of the stock. First Pacific Financial acquired a new stake in shares of State Street during the 1st quarter valued at $25,000. Capital Analysts LLC boosted its stake in shares of State Street by 3,914.3% during the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after buying an additional 274 shares during the period. Larson Financial Group LLC boosted its stake in shares of State Street by 40.8% during the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock valued at $36,000 after buying an additional 118 shares during the period. Coppell Advisory Solutions LLC boosted its stake in shares of State Street by 2,942.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 426 shares of the asset manager’s stock valued at $42,000 after buying an additional 412 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of State Street by 186.7% during the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock valued at $43,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

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.