Brokerages Set State Street Co. (NYSE:STT) Price Target at $81.83

Shares of State Street Co. (NYSE:STTGet Free Report) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $81.83.

A number of research analysts have recently commented on STT shares. Royal Bank of Canada upped their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of State Street from $66.00 to $65.00 in a research report on Wednesday, October 11th. Barclays increased their price target on shares of State Street from $87.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group raised shares of State Street from a “neutral” rating to a “buy” rating and increased their price target for the company from $69.00 to $92.00 in a research note on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd.

Check Out Our Latest Report on State Street

Institutional Investors Weigh In On State Street

A number of large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of State Street in the fourth quarter valued at $184,482,000. Morgan Stanley increased its position in State Street by 31.1% during the 4th quarter. Morgan Stanley now owns 6,031,661 shares of the asset manager’s stock valued at $467,876,000 after purchasing an additional 1,430,237 shares during the period. Eaton Vance Management grew its position in shares of State Street by 159.8% in the 1st quarter. Eaton Vance Management now owns 1,750,857 shares of the asset manager’s stock worth $152,535,000 after buying an additional 1,077,013 shares during the period. AustralianSuper Pty Ltd grew its position in shares of State Street by 327.0% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,325,417 shares of the asset manager’s stock worth $88,750,000 after buying an additional 1,015,022 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in State Street during the 4th quarter valued at about $45,687,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

NYSE STT opened at $73.03 on Monday. The business’s fifty day moving average is $75.59 and its two-hundred day moving average is $70.99. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.55. State Street has a 1 year low of $62.78 and a 1 year high of $94.74. The stock has a market capitalization of $22.54 billion, a P/E ratio of 13.30, a P/E/G ratio of 1.46 and a beta of 1.53.

State Street (NYSE:STTGet Free Report) last issued its quarterly earnings data on Friday, January 19th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.95 billion. State Street had a net margin of 10.59% and a return on equity of 11.86%. State Street’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. On average, research analysts forecast that State Street will post 7.79 earnings per share for the current fiscal year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, December 29th. State Street’s dividend payout ratio (DPR) is presently 50.27%.

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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; 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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