State Street Co. (NYSE:STT) Receives Average Recommendation of “Hold” from Analysts

State Street Co. (NYSE:STT) has earned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $98.36.

STT has been the subject of several analyst reports. Barclays upped their price target on shares of State Street from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley raised State Street from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $102.00 to $139.00 in a research note on Monday, December 9th. Wells Fargo & Company increased their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of State Street from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI increased their price target on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th.

Insider Activity at State Street

In other news, EVP Kathryn M. Horgan sold 12,500 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares in the company, valued at $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Plansky sold 13,859 shares of State Street stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,460 shares of company stock valued at $2,499,860 in the last three months. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in STT. Raymond James & Associates boosted its stake in State Street by 0.4% during the 2nd quarter. Raymond James & Associates now owns 81,472 shares of the asset manager’s stock worth $6,029,000 after purchasing an additional 292 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of State Street by 9.2% in the second quarter. HB Wealth Management LLC now owns 4,706 shares of the asset manager’s stock worth $348,000 after buying an additional 397 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in State Street by 3.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 186,406 shares of the asset manager’s stock worth $13,617,000 after acquiring an additional 5,646 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in State Street by 0.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,704 shares of the asset manager’s stock valued at $2,272,000 after acquiring an additional 274 shares in the last quarter. Finally, Kings Path Partners LLC acquired a new stake in State Street in the 2nd quarter valued at about $993,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of STT opened at $99.27 on Thursday. State Street has a 1 year low of $70.20 and a 1 year high of $101.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $95.85 and its two-hundred day moving average price is $86.55. The firm has a market cap of $29.10 billion, a PE ratio of 15.68, a PEG ratio of 1.24 and a beta of 1.44.

State Street (NYSE:STT) last posted its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company earned $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities research analysts forecast that State Street will post 8.42 EPS for the current year.

State Street Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

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.