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

State Street Co. (NYSE:STT) has been assigned a consensus rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $100.33.

STT has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of State Street from $108.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, January 2nd. Evercore ISI boosted their price objective on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a research report on Friday, December 20th. Finally, Barclays raised their price target on State Street from $108.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, January 6th.

State Street Trading Down 3.0 %

NYSE STT opened at $97.51 on Monday. The company has a market capitalization of $28.58 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street has a 12 month low of $70.20 and a 12 month high of $101.91. The company’s fifty day moving average price is $97.72 and its two-hundred day moving average price is $89.63.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.02% and a net margin of 9.87%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3,267,560 billion. During the same period last year, the firm earned $2.04 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts predict that State Street will post 8.45 earnings per share for the current fiscal year.

State Street Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction that occurred 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 directly owns 111,042 shares in the company, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STT. Albion Financial Group UT acquired a new position in shares of State Street during the 4th quarter worth about $25,000. Coastline Trust Co acquired a new position in State Street during the third quarter worth approximately $44,000. Friedenthal Financial bought a new stake in State Street in the fourth quarter valued at approximately $49,000. Capital Performance Advisors LLP acquired a new stake in shares of State Street in the third quarter valued at approximately $54,000. Finally, Versant Capital Management Inc boosted its stake in shares of State Street by 37.0% during the 4th quarter. Versant Capital Management Inc now owns 730 shares of the asset manager’s stock worth $72,000 after acquiring an additional 197 shares during the period. 87.44% of the stock is currently owned by institutional investors.

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.