State Street (NYSE:STT) PT Raised to $93.00

State Street (NYSE:STTGet Rating) had its target price boosted by Morgan Stanley from $88.00 to $93.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

STT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price target on State Street from $82.00 to $85.00 in a research note on Wednesday, January 11th. Barclays lifted their price target on State Street from $95.00 to $116.00 and gave the company an overweight rating in a research note on Tuesday, January 3rd. Credit Suisse Group lifted their price target on State Street from $76.00 to $84.00 and gave the company a neutral rating in a research note on Monday. Bank of America started coverage on State Street in a research note on Thursday, January 12th. They set a neutral rating and a $86.00 price target on the stock. Finally, StockNews.com started coverage on State Street in a research note on Wednesday, October 12th. They set a hold rating on the stock. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $87.68.

State Street Stock Performance

State Street stock opened at $86.22 on Monday. State Street has a 12-month low of $58.62 and a 12-month high of $103.76. The company has a quick ratio of 0.54, a current ratio of 0.56 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $78.85 and its two-hundred day moving average price is $72.44. The stock has a market cap of $31.64 billion, a PE ratio of 11.99, a P/E/G ratio of 1.42 and a beta of 1.57.

State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, January 3rd were issued a $0.63 dividend. The ex-dividend date was Friday, December 30th. This represents a $2.52 dividend on an annualized basis and a yield of 2.92%. State Street’s payout ratio is currently 35.05%.

Institutional Investors Weigh In On State Street

A number of hedge funds have recently added to or reduced their stakes in STT. Ronald Blue Trust Inc. bought a new stake in State Street in the second quarter worth approximately $25,000. Venture Visionary Partners LLC bought a new stake in State Street in the second quarter worth approximately $27,000. Guardian Wealth Advisors LLC bought a new stake in State Street in the third quarter worth approximately $27,000. Accurate Wealth Management LLC bought a new stake in State Street in the fourth quarter worth approximately $29,000. Finally, Rise Advisors LLC bought a new stake in shares of State Street during the third quarter valued at approximately $36,000. 88.41% of the stock is currently owned by institutional investors.

About State Street

(Get Rating)

State Street Corp. operates as a financial holding company. It conducts business primarily through State Street Bank. The firm operates through following business lines: Investment Servicing and Investment Management. The Investment Servicing business offers custody, product and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services, securities finance, deposit and short-term investment facilities, loans and lease financing, investment manager and alternative investment manager operations outsourcing, and performance, risk and compliance analytics.

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