State Street Co. (NYSE:STT) Receives $102.15 Consensus Target Price from Analysts

State Street Co. (NYSE:STT) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $102.15.

Several equities research analysts have commented on STT shares. Keefe, Bruyette & Woods dropped their target price on State Street from $118.00 to $113.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Evercore ISI lowered their price objective on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Citigroup reduced their target price on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 24th. The Goldman Sachs Group set a $98.00 price target on State Street and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company reduced their price objective on State Street from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday, March 28th.

State Street Price Performance

Shares of STT stock opened at $97.35 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $27.76 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.11 and a beta of 1.42. The business’s 50 day moving average price is $88.50 and its 200-day moving average price is $93.95. State Street has a fifty-two week low of $70.20 and a fifty-two week high of $103.00.

State Street (NYSE:STT) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. State Street had a net margin of 12.14% and a return on equity of 12.60%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the previous year, the firm earned $1.69 EPS. On average, equities research analysts anticipate that State Street will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be given a $0.76 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $3.04 annualized dividend and a yield of 3.12%. State Street’s payout ratio is 34.12%.

Insider Buying and Selling at State Street

In other news, CAO Elizabeth Schaefer sold 1,300 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer now directly owns 7,354 shares in the company, valued at $667,154.88. This represents a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of State Street

Institutional investors and hedge funds have recently modified their holdings of the company. Merit Financial Group LLC purchased a new position in shares of State Street in the fourth quarter valued at $395,000. Atomi Financial Group Inc. increased its holdings in State Street by 9.9% during the 4th quarter. Atomi Financial Group Inc. now owns 3,366 shares of the asset manager’s stock worth $330,000 after purchasing an additional 302 shares during the period. SG Americas Securities LLC increased its stake in shares of State Street by 569.1% during the fourth quarter. SG Americas Securities LLC now owns 16,861 shares of the asset manager’s stock valued at $1,655,000 after buying an additional 14,341 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of State Street by 11.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 74,268 shares of the asset manager’s stock valued at $7,289,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Mutual Advisors LLC purchased a new stake in State Street during the fourth quarter worth $207,000. 87.44% of the stock is currently 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.