State Street (NYSE:STT) Given New $113.00 Price Target at Keefe, Bruyette & Woods

State Street (NYSE:STT) had its price objective decreased by Keefe, Bruyette & Woods from $118.00 to $113.00 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

Several other equities analysts have also issued reports on the stock. Evercore ISI cut their price objective on shares of State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Citigroup reduced their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the company an “underperform” rating in a research report on Wednesday, April 2nd. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Finally, Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.15.

State Street Trading Down 0.8 %

Shares of NYSE STT opened at $80.61 on Monday. State Street has a twelve month low of $70.20 and a twelve month high of $103.00. 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 business has a fifty day simple moving average of $88.88 and a two-hundred day simple moving average of $93.77. The firm has a market cap of $23.26 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street (NYSE:STT) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.30 billion. State Street had a net margin of 12.14% and a return on equity of 12.60%. During the same period in the prior year, the firm earned $1.69 earnings per share. Analysts expect that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Tuesday, April 1st. State Street’s payout ratio is presently 34.12%.

Insider Buying and Selling

In other news, EVP Ann Fogarty sold 3,705 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the transaction, the executive vice president now owns 50,816 shares of the company’s stock, valued at approximately $5,054,667.52. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Summe sold 10,815 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the sale, the director now owns 100,023 shares of the company’s stock, valued at approximately $10,002,300. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Trading of State Street

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of State Street during the 4th quarter valued at approximately $161,021,000. Price T Rowe Associates Inc. MD increased its stake in State Street by 236.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,309,130 shares of the asset manager’s stock worth $226,642,000 after acquiring an additional 1,622,408 shares during the last quarter. FMR LLC raised its position in State Street by 14.2% in the fourth quarter. FMR LLC now owns 6,983,607 shares of the asset manager’s stock valued at $685,441,000 after purchasing an additional 870,849 shares during the period. Azora Capital LP acquired a new position in shares of State Street in the 4th quarter valued at $80,294,000. Finally, Northern Trust Corp grew its holdings in shares of State Street by 15.7% during the 4th quarter. Northern Trust Corp now owns 4,148,410 shares of the asset manager’s stock worth $407,166,000 after purchasing an additional 563,790 shares during the period. Hedge funds and other institutional investors 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.