State Street Co. (NYSE:STT) Given Average Rating of “Hold” by Brokerages

State Street Co. (NYSE:STT) has received an average recommendation of “Hold” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $101.07.

A number of research analysts have recently commented on STT shares. Truist Financial lowered their target price on State Street from $104.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Evercore ISI dropped their target price on State Street from $109.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Wells Fargo & Company dropped their target price on shares of State Street from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. raised State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Friday, December 20th. Finally, Morgan Stanley cut their price objective on State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd.

State Street Stock Up 9.5 %

Shares of NYSE STT opened at $82.47 on Friday. The company has a market cap of $23.80 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.11 and a beta of 1.42. The firm’s fifty day moving average is $91.80 and its 200 day moving average is $94.12. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a 52 week low of $70.20 and a 52 week high of $103.00.

State Street (NYSE:STT) last posted its earnings results on Friday, January 17th. The asset manager reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.31. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.27 billion. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.04 earnings per share. On average, equities research analysts expect that State Street will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.76 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.69%. State Street’s dividend payout ratio is presently 36.89%.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the transaction, the executive vice president now directly owns 50,816 shares of the company’s stock, valued at $5,054,667.52. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of the 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 completion of the sale, the director now directly owns 100,023 shares in the company, valued at $10,002,300. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On State Street

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STT. Albion Financial Group UT purchased a new position in shares of State Street during the fourth quarter worth approximately $25,000. Y.D. More Investments Ltd grew its stake in State Street by 116.6% in the fourth quarter. Y.D. More Investments Ltd now owns 366 shares of the asset manager’s stock worth $36,000 after purchasing an additional 197 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in State Street during the 4th quarter worth $42,000. Coppell Advisory Solutions LLC raised its position in 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 purchasing an additional 412 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of State Street by 187.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 477 shares of the asset manager’s stock worth $47,000 after buying an additional 311 shares during the period. Institutional investors own 87.44% of the company’s stock.

State Street Company Profile

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.