State Street (NYSE:STT) Price Target Lowered to $84.00 at Keefe, Bruyette & Woods

State Street (NYSE:STT) had its target price lowered by Keefe, Bruyette & Woods from $88.00 to $84.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the asset manager’s stock.

A number of other brokerages have also recently issued reports on STT. Morgan Stanley restated an equal weight rating and issued a $90.00 price objective on shares of State Street in a research note on Wednesday, June 12th. Argus upped their price objective on State Street from $84.00 to $86.00 and gave the company a buy rating in a research note on Monday, April 15th. UBS Group raised their target price on State Street from $80.00 to $82.00 and gave the stock a neutral rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a research report on Friday, April 12th. Finally, Evercore ISI lifted their price objective on State Street from $85.00 to $88.00 and gave the company an outperform rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $83.88.

State Street Stock Up 0.3 %

Shares of STT opened at $73.05 on Thursday. State Street has a 52 week low of $62.78 and a 52 week high of $79.90. The firm has a market capitalization of $22.01 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.26 and a beta of 1.47. The company has a 50-day simple moving average of $74.30 and a 200-day simple moving average of $74.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.61 and a current ratio of 0.61.

State Street (NYSE:STT) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.21. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%. On average, equities research analysts expect that State Street will post 7.94 earnings per share for the current year.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 1st. State Street’s dividend payout ratio is 51.69%.

Institutional Investors Weigh In On State Street

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Symmetry Partners LLC increased its position in State Street by 3.5% in the first quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock worth $294,000 after purchasing an additional 130 shares during the period. HB Wealth Management LLC grew its position in shares of State Street by 3.4% during the 1st quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after buying an additional 140 shares during the period. Tompkins Financial Corp grew its position in shares of State Street by 28.3% during the 1st quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock worth $53,000 after buying an additional 150 shares during the period. CWM LLC raised its stake in shares of State Street by 2.6% during the first quarter. CWM LLC now owns 6,435 shares of the asset manager’s stock worth $498,000 after buying an additional 165 shares during the last quarter. Finally, Syon Capital LLC lifted its holdings in State Street by 3.7% in the fourth quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after buying an additional 168 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

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.